Morgan Stanley Downgrades Disc Medicine to Equal-Weight, Raises Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Jeffrey Hung has downgraded Disc Medicine (NASDAQ: IRON) from Overweight to Equal-Weight while increasing the price target from $56 to $65.
December 19, 2023 | 2:29 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Disc Medicine was downgraded by Morgan Stanley from Overweight to Equal-Weight, although the price target was raised from $56 to $65.
The downgrade to Equal-Weight suggests that Morgan Stanley sees limited upside potential relative to the market or sector, which could temper investor enthusiasm. However, the increase in price target indicates a positive outlook on the company's value, which might counterbalance the downgrade's negative impact. The net effect on the stock price could be neutral in the short term as the market digests both pieces of information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100