Morgan Stanley Reinstates Underweight on APA, Announces $28 Price Target
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Devin McDermott reinstated an Underweight rating on APA Corporation (NASDAQ:APA) with a $28 price target, suggesting a bearish outlook on the stock.

April 15, 2024 | 1:29 pm
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Morgan Stanley analyst Devin McDermott reinstated APA Corporation with an Underweight rating and set a price target of $28, indicating a bearish perspective on the stock.
The reinstatement of an Underweight rating by a major financial institution like Morgan Stanley, accompanied by a specific price target, directly impacts investor sentiment and can lead to a decrease in stock price in the short term. The analyst's bearish outlook suggests a lack of confidence in the company's current valuation or future performance prospects.
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