Morgan Stanley Maintains Equal-Weight on Shoals Technologies Gr, Lowers Price Target to $17
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Stephen Biggar has maintained an Equal-Weight rating on Shoals Technologies Group (NASDAQ:SHLS) but has reduced the price target from $21 to $17.

December 08, 2023 | 1:26 pm
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NEGATIVE IMPACT
Morgan Stanley has maintained an Equal-Weight rating on SHLS but lowered the price target from $21 to $17, indicating a potential downside based on the analyst's expectations.
The reduction in price target by a major analyst like Morgan Stanley suggests that they see less upside potential for SHLS, which could lead to a negative short-term reaction in the stock price. The Equal-Weight rating indicates that the analyst views the company as fairly valued at its current price, but the lowered target may still influence market sentiment negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100