Morgan Stanley Maintains Underweight Rating for American Eagle Outfitters: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Underweight rating for American Eagle Outfitters (NYSE:AEO) and reduced its price target from $14.00 to $13.00. AEO's shares are currently trading at $16.75, and the new price target suggests a potential decline of 22.39%. American Eagle Outfitters is a retailer with the majority of its revenue from the U.S., operating both physical stores and an online business.
November 24, 2023 | 5:00 pm
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Morgan Stanley has reaffirmed its Underweight rating on American Eagle Outfitters and lowered the price target to $13, indicating a potential 22.39% downside from the current price.
The reaffirmation of the Underweight rating and reduction in price target by a major financial institution like Morgan Stanley can have a negative impact on investor sentiment and potentially lead to a short-term decline in AEO's stock price.
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