Morgan Stanley Downgrades ProFrac Holding to Equal-Weight, Lowers Price Target to $14
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Daniel Kutz has downgraded ProFrac Holding (NASDAQ:ACDC) from Overweight to Equal-Weight and lowered the price target from $18 to $14.
October 17, 2023 | 11:10 am
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ProFrac Holding has been downgraded by Morgan Stanley from Overweight to Equal-Weight, with a reduced price target of $14.
The downgrade from Morgan Stanley is likely to negatively impact the short-term price of ProFrac Holding's stock. The lowered price target suggests that the analyst sees less upside potential in the stock, which could lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100