Morgan Stanley Maintains Equal-Weight Rating for Academy Sports: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Equal-Weight rating on Academy Sports (NASDAQ:ASO) but reduced its price target from $60.00 to $55.00. Despite this, ASO shares have risen 1.91% in the last 24 hours to $51.84. The new price target suggests a potential upside of 6.1%. Academy Sports operates in the retail sector, specializing in sporting goods and outdoor recreation products.
December 01, 2023 | 5:00 pm
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Morgan Stanley maintains Equal-Weight on Academy Sports, lowers price target from $60 to $55. ASO shares up 1.91% to $51.84, with the new target indicating a 6.1% potential rise.
The reduction in price target by Morgan Stanley could be seen as a negative signal, potentially tempering investor expectations. However, the stock's recent performance and the fact that the rating was not downgraded may mitigate any negative impact. The new price target still suggests growth, which could maintain investor interest in the short term.
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