Moog upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Moog to Equal Weight from Underweight with a price target of $141, up from $95. The company’s margins are beginning to inflect as its pricing initiatives and simplification efforts start to bear fruit, the analyst tells investors in a research note. The firm now has more conviction around Moog’s margin expansion roadmap. However, despite an encouraging margin outlook, the company’s free cash flow faces near-term pressure, adds Morgan Stanley.