Morgan Stanley Maintains Equal-Weight Rating for Cytek Biosciences: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Equal-Weight rating for Cytek Biosciences (NASDAQ:CTKB) but lowered its price target from $13.00 to $8.00. Cytek Biosciences' shares are currently trading down 1.08% over the last 24 hours, at $4.57 per share.
October 24, 2023 | 5:00 pm
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Morgan Stanley has maintained its rating but lowered the price target for Cytek Biosciences. This could potentially impact the stock negatively in the short term.
The decision by Morgan Stanley to maintain its Equal-Weight rating indicates a neutral stance on the stock. However, the lowering of the price target from $13.00 to $8.00 could be perceived negatively by the market, potentially leading to a short-term decrease in the stock price.
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IMPORTANCE 80
RELEVANCE 100