Morgan Stanley Downgrades Traeger to Underweight, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Megan Alexander has downgraded Traeger (NYSE:COOK) from Equal-Weight to Underweight and lowered the price target from $4.75 to $3.
September 27, 2023 | 1:27 pm
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NEGATIVE IMPACT
Traeger's stock has been downgraded by Morgan Stanley from Equal-Weight to Underweight, with a lowered price target from $4.75 to $3.
The downgrade from Morgan Stanley is a negative signal for Traeger's stock. The lowered price target suggests that the analyst believes the stock is overvalued at current levels, which could lead to selling pressure and a potential decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100