The downgrade to Market Perform suggests a neutral outlook on ALPN's stock performance in the short term, indicating that the stock might not outperform the market as previously expected. However, the increase in the price target from $42 to $65 reflects a positive adjustment in the valuation of the company, suggesting that the stock has potential for growth. The mixed nature of this update (a downgrade in rating but an increase in price target) could lead to varied interpretations by investors, potentially resulting in neutral short-term price movement.