Morgan Stanley Maintains Equal-Weight on Navitas Semiconductor, Lowers Price Target to $6.9
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Joseph Moore has maintained an Equal-Weight rating on Navitas Semiconductor (NASDAQ:NVTS) but reduced the price target from $8 to $6.9.
November 10, 2023 | 2:17 pm
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Morgan Stanley analyst Joseph Moore has maintained an Equal-Weight rating on NVTS but lowered the price target from $8 to $6.9, indicating a potential downside compared to the previous target.
The reduction in price target by a major analyst like Morgan Stanley suggests a tempered expectation of NVTS's stock performance, which could lead to a negative short-term impact on the stock price. The Equal-Weight rating indicates that the analyst views the stock as fairly valued at its current price, but the lowered target may influence market sentiment negatively.
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