Soitec is trading 4.23% down at €105.40 after Morgan Stanley cut its rating from overweight to market weight and reduced its price target from €200 to €140. - November 4 coverage linked the sharp sell-off to the downgrade, which outweighed a same-day UBS upgrade. - UBS raised its target from €94 to €130. Semiconductor-sector pressure may add context, but reporting points more directly to Morgan Stanley’s reassessment.