Gen Digital shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered its price target from $28 to $27.
Portfolio Pulse from Benzinga Newsdesk
Gen Digital shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered its price target from $28 to $27.
June 07, 2024 | 11:41 am
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Gen Digital shares are experiencing a decline following a downgrade by Morgan Stanley from Overweight to Equal-Weight, with a reduced price target from $28 to $27.
The downgrade by a major financial institution like Morgan Stanley typically leads to a negative market reaction. The reduction in the price target also signals a less optimistic outlook, contributing to the decline in share price.
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