Nokian Shares Dip After Morgan Stanley Downgrade

On the Helsinki Stock Exchange, Nokian Tyres’ shares fell slightly to 15.35 euros after the company was downgraded by analysts Morgan Stanley from “overweight” to “equal weight”. Nokian’s valuation has outperformed others in the market since July, says Morgan Stanley, but is now starting to appear stretched. Another factor is the possibility of increased competition in Russia, following reports that Bridgestone has acquired land in St. Petersburg.