Morgan Stanley downgrades Johnson Electric profit outlook by 12%

Johnson Electric (0179) will post annual report on June 8. Morgan Stanley Dean Writter issued report this morning to downgrade Johnson Electric's profit outlook by 12% over HK$18 mln to HK$20 mln provision made for closing US-located plant. Morgan Stanley maintained target price for Johnson Electric at HK$16 and ratings as "leading the market"

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