Morgan Stanley Maintains Underweight Rating for Evertec: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Underweight rating for Evertec (NYSE:EVTC) and raised its price target from $29.00 to $31.00. Evertec's shares are currently trading down 2.04% at $40.16 per share. A move to $31.00 would account for a 22.82% decline from the current share price.
July 27, 2023 | 5:00 pm
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Morgan Stanley maintains its Underweight rating for Evertec and raises its price target. This could potentially lead to a decline in Evertec's share price.
Morgan Stanley's decision to maintain its Underweight rating indicates a negative outlook for Evertec. The raised price target, while higher, is still significantly lower than the current trading price, suggesting a potential decline. This could negatively impact Evertec's share price in the short term.
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