Morgan Stanley Downgrades Model N to Equal-Weight, Lowers Price Target to $30
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Craig Hettenbach downgraded Model N (NYSE:MODN) from Overweight to Equal-Weight and reduced the price target from $37 to $30.
April 10, 2024 | 10:06 am
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NEGATIVE IMPACT
Model N was downgraded by Morgan Stanley from Overweight to Equal-Weight, with a price target reduction from $37 to $30.
The downgrade by a major financial institution like Morgan Stanley from Overweight to Equal-Weight, accompanied by a significant reduction in the price target, is likely to negatively impact investor sentiment towards Model N in the short term. This could lead to a decrease in the stock price as investors adjust their expectations based on the new analyst rating and price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100