Morgan Stanley Downgrades Farfetch to Equal-Weight, Lowers Price Target to $5
Portfolio Pulse from richadhand@benzinga.com
Morgan Stanley analyst Lauren Schenk has downgraded Farfetch (NYSE:FTCH) from Overweight to Equal-Weight and lowered the price target from $20 to $5.
August 29, 2023 | 9:36 am
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NEGATIVE IMPACT
Farfetch's rating has been downgraded by Morgan Stanley from Overweight to Equal-Weight, and its price target has been lowered from $20 to $5.
The downgrade from Morgan Stanley is likely to negatively impact Farfetch's stock in the short term. The significant reduction in the price target from $20 to $5 suggests that the analyst sees less upside potential in the stock, which could lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100