Grifols upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Thibault Boutherin upgraded Grifols to Overweight from Equal Weight with an unchanged price target of EUR 14. Against a backdrop of "depressed sentiment and valuation," and with the share price close to the 10-year low, the company’s "threshold for outperformance is low," the analyst tells investors in a research note. The firm says on-track operating performance, progress on deleveraging or a "clearing event" with the ADHERE trial data could trigger a re-rating of the shares.