Philips Electronics (PHG) Shares Charge Higher Following Morgan Stanley Upgrade

Shares of Philips Electronics (NYSE: PHG) have ticked well into positive territory Thursday afternoon following an intraday upgrade from an analyst at Morgan Stanley. The firm now rates the stock an Eqaulweight, up from Underweight previously.

Morgan Stanley said the company's Lighting unit could be making a turn in the right direction. A North American upcycle and cost savings could soon beginning have positive implications during the second half of this year.

Philips shares last traded at $17.81, up about 0.75 percent from Wednesday's closing price.

For an analyst ratings summary and ratings history on Philips Electronics click here. For more ratings news on Philips Electronics click here.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Northland Upgrades Astera Labs (ALAB) to Outperform, 'Right Time, Customers, and Products'
• Goldman Sachs Upgrades Lonking Holdings Limited (3339:HK) (LONKF) to Buy
• Berenberg Upgrades Mobileye N.V (MBLY) to Buy