Tate & Lyle share price drops after Morgan Stanley downgrade

Tate & Lyle share price falls after Morgan Stanley cuts stock rating, target

Morgan Stanley has downgraded the stock to "underweight", citing increased risk to Tate & Lyle's mid-term targets after Tyson Foods said it would remove sucralose from US-branded products

Tate & Lyle share price drops after Morgan Stanley downgrade

Tate & Lyle’s share price dropped more than six per cent on Monday morning after Morgan Stanley changed its rating for the sugar giant. The broker cut the stock to “underweight” from “equal weight”, with a 500p price target. It cited higher risk to Tate & Lyle’s mid-term targets after Tyson Foods said it would phase out sucralose from US-branded products, with the risk that more consumer packaged goods could follow. Tyson will phase out the zero…