Morgan Stanley Maintains Overweight on Microchip Technology, Lowers Price Target to $90
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Joseph Moore has maintained an Overweight rating on Microchip Technology (NASDAQ:MCHP) but lowered the price target from $96 to $90.

November 03, 2023 | 1:02 pm
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NEUTRAL IMPACT
Morgan Stanley has maintained an Overweight rating on Microchip Technology but lowered the price target from $96 to $90.
The news is directly about Microchip Technology. The Overweight rating suggests that Morgan Stanley expects the stock to outperform the market, which is positive. However, the lowering of the price target could be seen as a negative signal, suggesting that the stock might not rise as much as previously expected. Therefore, the short-term impact on the stock price is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100