Alcon shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and announced a $65 price target.
Portfolio Pulse from Benzinga Newsdesk
Alcon's stock (ALC) trades lower following a downgrade by Morgan Stanley from Equal-Weight to Underweight, with a new price target set at $65.
December 04, 2023 | 6:41 pm
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Morgan Stanley downgraded Alcon to Underweight from Equal-Weight and set a price target of $65, causing the stock to trade lower.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less favorable outlook for the company. The new price target of $65 by Morgan Stanley may also set a lower expectation for the stock's future performance, potentially influencing investor sentiment and stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100