The downgrade by Morgan Stanley from Overweight to Equal Weight suggests a neutral outlook, which often leads to selling pressure as investors may perceive this as a signal to reduce holdings. However, the increase in the price target from $20.5 to $23 indicates a belief in the company's value proposition, which could mitigate the negative impact to some extent. The immediate market reaction is typically driven by the change in rating rather than the price target adjustment, hence the negative score.