
Morgan Stanley downgrades Swiss dental implant maker Straumann STMN.S to "underweight" from "equal-weight"
The broker cites U.S. volume growth pressures and margin headwinds from Straumann's China ramp up as potential challenges to its premium valuation
The company announced in June that it was cutting 250 jobs at its Villeret site, seeking to localise its production for the Chinese market
J.P. Morgan maintains its "neutral" rating for Straumann, saying that upcoming Q3 consensus expectations factor in foreign exchange headwinds but that Asia Pacfic sales appear to be estimated too high
Shares are down 1.3%
Including today's fall, the stock has dropped by 25% YTD