Morgan Stanley Lowers SWATCH GRP AG/ADR (SWGAY) to Underweight
Morgan Stanley lowered shares of SWATCH GRP AG/ADR (OTCMKTS:SWGAY) from an equal weight rating to an underweight rating in a research note released on Monday, The Fly reports.
SWGAY has been the subject of several other reports. HSBC upgraded SWATCH GRP AG/ADR from a hold rating to a buy rating in a research note on Thursday, October 25th. Royal Bank of Canada downgraded SWATCH GRP AG/ADR from an outperform rating to a sector perform rating in a research note on Wednesday, November 21st. UBS Group downgraded SWATCH GRP AG/ADR from a neutral rating to a sell rating in a research note on Wednesday, November 21st. Finally, Societe Generale upgraded SWATCH GRP AG/ADR from a sell rating to a hold rating in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold.
SWGAY stock opened at $14.06 on Monday. SWATCH GRP AG/ADR has a 1-year low of $13.96 and a 1-year high of $25.30.
The Swatch Group Ltd manufactures and sells finished watches, jewelry, and watch movements and components worldwide. The company's Watches & Jewelry segment designs, produces, and commercializes watches and jewelry. Its Electronic Systems segment engages in the design, production, and commercialization of electronic components, as well as sports timing activities.
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