Weir Group upgraded to Overweight from Underweight at Morgan Stanley

Morgan Stanley analyst Michael Harleaux upgraded Weir Group (WEGRY) to Overweight from Underweight with a price target of 2,560 GBp, up from 2,080 GBp. In 2025, the firm sees a more supportive environment for European mining equipment’s aftermarket businesses than its original manufacturing ones, given the state of copper and gold markets. Mining capex trends point to low growth in 2025, and against this backdrop, further consolidation should not be ruled out, the analyst tells investors in a research note.