Morgan Stanley Downgrades Expensify to Underweight, Lowers Price Target to $5
Portfolio Pulse from richadhand@benzinga.com
Morgan Stanley analyst James Faucette downgraded Expensify (NASDAQ:EXFY) from Equal-Weight to Underweight and lowered the price target from $9 to $5.
June 12, 2023 | 9:13 am
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Expensify (EXFY) has been downgraded by Morgan Stanley from Equal-Weight to Underweight, with a reduced price target of $5.
Morgan Stanley's downgrade of Expensify to Underweight and the lowering of the price target from $9 to $5 indicates a negative outlook for the stock. This could lead to a short-term decline in the stock price as investors may react to the revised rating and price target.
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IMPORTANCE 80
RELEVANCE 100