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 185, up from EUR 143. The analyst says plans to re-shore the solar industry to the West present a "free call option" on the value ascribed to Wacker’s Polysilicon assets, supported by an improving backdrop for profitability, returns, and growth. Prepayments and a decoupled price "appear increasingly likely," the analyst tells investors in a research note.