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Morgan Stanley drops Siemens (SI) to Equal Weight and Philips (PHG) to Underweight, noting...

Morgan Stanley drops Siemens (SI) to Equal Weight and Philips (PHG) to Underweight, noting leading indicators point to further earnings shrinkage in the capital goods sector. But analysts at SocGen find the pair "relatively attractive," noting shares already discount a worst-case scenario in excess of 60%.
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