GoPro shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $4 to $3.
Portfolio Pulse from Benzinga Newsdesk
GoPro's stock (GPRO) trades lower following a downgrade by Morgan Stanley from Equal-Weight to Underweight, with a reduced price target from $4 to $3.
December 12, 2023 | 4:49 pm
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NEGATIVE IMPACT
GoPro's stock is likely to experience downward pressure in the short term due to Morgan Stanley's downgrade and a lower price target.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a sell-off. The reduction in price target further suggests a bearish outlook on the stock's value, which can lead to a decrease in investor confidence and a subsequent drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100