Morgan Stanley Downgrades Driven Brands Hldgs to Equal-Weight, Lowers Price Target to $14
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Simeon Gutman has downgraded Driven Brands Holdings (DRVN) from Overweight to Equal-Weight and reduced the price target from $22 to $14.

January 16, 2024 | 11:48 am
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Driven Brands Holdings was downgraded by Morgan Stanley from Overweight to Equal-Weight, with a price target cut from $22 to $14.
The downgrade from Overweight to Equal-Weight by a major financial institution like Morgan Stanley suggests a less bullish outlook on DRVN's stock, which could lead to a decrease in investor confidence and a potential drop in the stock price in the short term. The reduction in the price target further emphasizes a more conservative valuation of the company.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100