Morgan Stanley Maintains Equal-Weight on Callon Petroleum, Lowers Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Devin Ryan has maintained an Equal-Weight rating on Callon Petroleum (NYSE:CPE) but has reduced the price target from $41 to $40.

November 29, 2023 | 3:03 pm
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NEUTRAL IMPACT
Morgan Stanley has maintained an Equal-Weight rating on Callon Petroleum and lowered the price target from $41 to $40, indicating a potential limited upside or downside.
The adjustment of the price target by Morgan Stanley suggests a minor change in the valuation of Callon Petroleum. The Equal-Weight rating indicates that the analyst believes the stock is valued appropriately in relation to its peers and the market. The reduction in the price target is slight, suggesting only a modest impact on the stock's perceived value. This news is likely to have a neutral short-term impact on the stock price as it does not significantly alter the investment thesis.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100