Morgan Stanley Maintains Overweight on IO Biotech, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Matthew Harrison maintains an Overweight rating on IO Biotech (NASDAQ:IOBT) but has lowered the price target from $11 to $7.
August 15, 2023 | 1:00 pm
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Morgan Stanley has maintained an Overweight rating on IO Biotech but lowered the price target from $11 to $7.
The lowering of the price target by Morgan Stanley, a major financial institution, could negatively impact investor sentiment towards IO Biotech, potentially leading to a decrease in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100