Calbee downgraded to Equal Weight from Overweight at Morgan Stanley

Group 1 - Morgan Stanley downgraded Calbee (CBCFF) to Equal Weight from Overweight with a price target of 3,100 yen, down from 3,300 yen [1] - The downgrade is attributed to higher-than-expected fixed-cost burdens at the Setouchi Hiroshima plant due to potato shortages [1] - Earnings forecasts have been lowered to reflect these increased costs [1]