Morgan Stanley Maintains Equal-Weight on ON Semiconductor, Lowers Price Target to $70
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Joseph Moore maintains an Equal-Weight rating on ON Semiconductor (NASDAQ:ON) and lowers the price target from $80 to $70.

April 22, 2024 | 2:25 pm
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Morgan Stanley maintains an Equal-Weight rating on ON Semiconductor and lowers the price target from $80 to $70.
The reduction in price target by Morgan Stanley could lead to a negative short-term sentiment among investors, potentially causing a decrease in ON Semiconductor's stock price. The Equal-Weight rating suggests that the analyst views the stock as adequately valued at its current price, but the lowered price target indicates a revision of the stock's future valuation, which might impact investor confidence negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100