Block shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $62 to $60.
Portfolio Pulse from Benzinga Newsdesk
Block shares are trading lower following a downgrade by Morgan Stanley from Equal-Weight to Underweight, with a price target reduction from $62 to $60.
April 04, 2024 | 11:05 am
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Block, Inc. (SQ) shares are trading lower after Morgan Stanley downgraded the stock and lowered its price target.
The downgrade by a major financial institution like Morgan Stanley can significantly impact investor sentiment towards Block, Inc. (SQ), leading to a decrease in stock price in the short term. The reduction in the price target further emphasizes a bearish outlook on the stock, likely causing a negative reaction in the market.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100