Morgan Stanley Maintains Underweight on DocuSign, Lowers Price Target to $49
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Josh Baer has maintained an Underweight rating on DocuSign (NASDAQ:DOCU) and reduced the price target from $51 to $49.
December 08, 2023 | 1:10 pm
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NEGATIVE IMPACT
Morgan Stanley has maintained an Underweight rating on DocuSign and lowered the price target, indicating a bearish outlook on the stock.
The reduction in price target by a major financial institution like Morgan Stanley suggests that the analyst sees limited upside potential or increased risk in DocuSign's stock. This could lead to negative investor sentiment and a potential decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100