Morgan Stanley Downgrades Chegg to Underweight, Lowers Price Target to $9
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Josh Baer has downgraded Chegg (NYSE:CHGG) from Equal-Weight to Underweight and reduced the price target from $10 to $9.

November 20, 2023 | 10:38 am
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Chegg's stock rating has been downgraded by Morgan Stanley from Equal-Weight to Underweight, and the price target has been lowered from $10 to $9.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a decrease in stock price. The reduction in price target further suggests a bearish outlook on the stock's value, which may influence investors to reassess the company's growth prospects and stock valuation.
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