Morgan Stanley Downgrades Liberty Formula One Group to Equal-Weight, Lowers Price Target to $70
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Benjamin Swinburne has downgraded Liberty Formula One Group (FWONK) from Overweight to Equal-Weight and reduced the price target from $80 to $70.
December 18, 2023 | 12:20 pm
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NEGATIVE IMPACT
Morgan Stanley downgraded Liberty Formula One Group from Overweight to Equal-Weight and lowered the price target from $80 to $70.
The downgrade by a major financial institution like Morgan Stanley suggests a less optimistic outlook on FWONK's market performance. The reduction in price target may lead to a negative investor sentiment in the short term, potentially causing a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100