Morgan Stanley Downgrades GoPro to Underweight, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Erik Woodring has downgraded GoPro (NASDAQ:GPRO) from Equal-Weight to Underweight and reduced the price target from $4 to $3, indicating a bearish outlook on the company's stock.
December 12, 2023 | 10:51 am
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Morgan Stanley downgraded GoPro's stock from Equal-Weight to Underweight and lowered the price target from $4 to $3, suggesting a potential decline in the stock's value.
Analyst downgrades typically lead to a negative perception among investors and can result in a short-term decline in stock price. The reduction in price target further emphasizes a lack of confidence in the stock's performance, potentially leading to selling pressure.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100