Ube Corp upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Ube Corp to Overweight from Equal Weight with a price target of 3,900 yen, up from 3,200 yen. While noting F3/25 operating profit just missed guidance, the firm says it expects record profits from chemicals-related segments in F3/28 on continued growth in specialty chemicals. The announcements of structural reforms could provide catalysts, the firm added.