Morgan Stanley Downgrades PagerDuty to Equal-Weight, Announces $30 Price Target
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Sanjit Singh has downgraded PagerDuty (NYSE:PD) from Overweight to Equal-Weight and set a price target of $30. This change reflects a revised outlook on the company's stock by the analyst.

January 24, 2024 | 11:20 am
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PagerDuty's stock rating has been downgraded by Morgan Stanley from Overweight to Equal-Weight, with a price target set at $30, indicating a neutral outlook.
Analyst downgrades typically lead to a neutral or negative short-term reaction in the stock price as they suggest a more cautious view on the stock's future performance. The setting of a price target provides a reference point for investors, but since it is not a drastic change from the current trading price, the immediate impact is likely to be moderate.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100