Morgan Stanley Maintains Underweight on MGE Energy, Lowers Price Target to $67
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Stephen Byrd has maintained an 'Underweight' rating on MGE Energy (NASDAQ:MGEE) and lowered the price target from $68 to $67.
July 21, 2023 | 2:45 pm
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Morgan Stanley has maintained an 'Underweight' rating on MGE Energy and lowered the price target, which could negatively impact the stock's price.
The 'Underweight' rating maintained by Morgan Stanley indicates a negative outlook for MGE Energy. The lowering of the price target from $68 to $67 suggests that the analyst believes the stock is overvalued at its current price, which could lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100