Morgan Stanley Downgrades Tenaris to Underweight, Announces $40 Price Target
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Connor Lynagh downgraded Tenaris (NYSE:TS) from Overweight to Underweight and set a new price target of $40. This adjustment reflects a more cautious outlook on the company's stock.

April 18, 2024 | 4:54 pm
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Tenaris downgraded by Morgan Stanley from Overweight to Underweight with a new price target of $40.
The downgrade from Overweight to Underweight by a major financial institution like Morgan Stanley suggests a bearish outlook on Tenaris's stock. This could lead to a negative short-term impact on the stock's price as investors adjust their expectations based on this new analysis. The setting of a $40 price target further quantifies the expected downside, providing a specific benchmark for investors to consider.
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