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.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100