Phibro Animal Health shares are trading lower after the company reported worse-than-expected Q1 financial results. Also, Morgan Stanley maintained an Equal-Weight rating on the stock and lowered its price target from $17 to $16.
Portfolio Pulse from Benzinga Newsdesk
Phibro Animal Health's shares have dropped following the company's disappointing Q1 financial results. Morgan Stanley has maintained an Equal-Weight rating on the stock but reduced its price target from $17 to $16.

November 09, 2023 | 4:07 pm
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NEGATIVE IMPACT
Phibro Animal Health's stock price is likely to be negatively impacted due to poor Q1 results and a lowered price target by Morgan Stanley.
Phibro Animal Health's worse-than-expected Q1 results are a negative signal to investors, indicating potential operational or financial issues. Additionally, Morgan Stanley's decision to lower its price target for the stock, while maintaining an Equal-Weight rating, suggests that the investment bank sees limited upside potential in the near term. These factors are likely to put downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100