Morgan Stanley Maintains Underweight on iHeartMedia, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Benjamin Swinburne has maintained an Underweight rating on iHeartMedia (NASDAQ:IHRT) and reduced the price target from $5 to $3.
November 10, 2023 | 2:12 pm
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Morgan Stanley's analyst has reaffirmed an Underweight rating on iHeartMedia and cut the price target from $5 to $3, indicating a bearish outlook.
The reduction in price target by a major financial institution like Morgan Stanley suggests a bearish view on the stock's value and can lead to negative investor sentiment, potentially causing a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100