Morgan Stanley Assumes Bumble at Equal-Weight, Lowers Price Target of $13
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Brian Nowak has assumed coverage of Bumble (NASDAQ:BMBL) with an Equal-Weight rating and has lowered the price target to $13.

April 18, 2024 | 12:25 pm
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NEGATIVE IMPACT
Morgan Stanley has assumed coverage of Bumble with an Equal-Weight rating and lowered the price target to $13.
The assumption of coverage by Morgan Stanley with an Equal-Weight rating and a reduction in the price target to $13 could lead to a negative short-term impact on Bumble's stock price. This is because the lowered price target may signal to investors that the stock's future growth prospects or current valuation may not be as strong as previously thought, potentially leading to a decrease in investor confidence and a subsequent drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100