RBC Capital downgrades Morgan Advanced to ‘sector perform’.
RBC Capital Markets downgraded its stance on Morgan Advanced Materials on Tuesday to ‘sector perform’ from ‘outperform’ and cut the price target to 210p from 250p as it said the market was likely to "look for proof of improvement".
Morgan Advanced Materials
25 November 2025 10:55:20
Source: Sharecast
"There remains significant medium term potential at Morgan Advanced, in our view, and a December strategy event should highlight some of the opportunity with the strategic vision of new CEO Damien Caby," RBC said.
"However, the tough trading highlighted in the October profit warning provides a lower run rate of profitability into 2026."
The bank said it expects 2026 EBITA to decline year-on-year to a level around 35% below 2022 delivery.
"In this context we expect the market to adopt more of a ‘show me’ attitude to the share from here and as such downgrade to sector perform," it said.
At 1045 GMT, the shares were down 2.3% at 190.66p.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
