Morgan Stanley Upgrades Sonos to Overweight, Raises Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Erik Woodring upgraded Sonos (NASDAQ:SONO) from Equal-Weight to Overweight and increased the price target from $17 to $20.
December 12, 2023 | 10:35 am
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Morgan Stanley upgraded Sonos to Overweight from Equal-Weight and raised the price target to $20, indicating a positive outlook on the company's stock.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest improved fundamentals or future prospects for the company. The increase in price target from $17 to $20 by a reputable firm like Morgan Stanley can instill investor confidence and potentially drive up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100