Koninklijke Vopak upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Rachel Fletcher upgraded Koninklijke Vopak to Overweight from Equal Weight with a price target of EUR 45, up from EUR 38.50. The analyst sees an oversupplied oil market in 2024 and says Vopak’s Chemicals business is benefitting from increased imports into Europe. With a “more supportive macro backdrop,” the firm “tactically” upgrades the shares.