Wacker Chemie upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Wacker Chemie to Overweight from Equal Weight with a price target of EUR 113, down from EUR 128. Wacker has exited the unprofitable China solar market on the basis that U.S. domestic solar growth will consume its solar grade material as it continues to shift to semi-conductor polysilicon, the analyst tells investors in a research note. The firm says its analysis confirms this view.