MorphoSys shares are trading higher after JP Morgan upgraded the stock from Underweight to Overweight and raised its price target from $3.3 to $10. Also, Wells Fargo initiated coverage on the stock with an Overweight rating and announced a $17 price targe
Portfolio Pulse from Benzinga Newsdesk
MorphoSys shares are trading higher after JP Morgan upgraded the stock from Underweight to Overweight and raised its price target from $3.3 to $10. Wells Fargo also initiated coverage with an Overweight rating and a $17 price target.
June 16, 2023 | 3:15 pm
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POSITIVE IMPACT
MorphoSys shares are expected to rise in the short term due to JP Morgan's upgrade to Overweight and Wells Fargo's initiation of coverage with positive ratings and higher price targets.
The news directly mentions MorphoSys and the positive analyst ratings from JP Morgan and Wells Fargo. These upgrades and higher price targets are likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100