Morgan Stanley Downgrades Endava to Equal-Weight, Raises Price Target to $80
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst James Faucette has downgraded Endava (NYSE:DAVA) from Overweight to Equal-Weight, while also raising the price target from $68 to $80.

January 24, 2024 | 11:16 am
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Endava's stock rating was downgraded by Morgan Stanley from Overweight to Equal-Weight, although the price target was increased from $68 to $80.
The downgrade to Equal-Weight suggests that Morgan Stanley believes Endava's stock performance will align with the market or sector average, indicating a neutral outlook. However, the increase in price target to $80 implies a positive view on the company's valuation, which could counterbalance the downgrade's impact. The mixed signals may result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100