RWE: Morgan Stanley raises target price.

(CercleFinance.com) - Morgan Stanley said on Friday that it is maintaining its "overweight" rating on RWE shares and raising its target price from 15.
5 euros to 18 euros after updating its estimates.

In a research note, the US broker points out that the German energy company's shares have performed well year-to-date (+36% in absolute terms) compared to the utilities sector (+28% in relative terms).

"Despite this rally, we believe the free cash flow generation remains underappreciated," added Morgan Stanley, which said its estimates sit above consensus numbers for 2017-2019.

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