Twilio shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered its price target from $70 to $60.
Portfolio Pulse from Benzinga Newsdesk
Twilio shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered its price target from $70 to $60.
June 14, 2024 | 1:33 pm
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Twilio shares are trading lower following a downgrade by Morgan Stanley from Overweight to Equal-Weight, with a reduced price target from $70 to $60.
The downgrade by a major financial institution like Morgan Stanley typically signals a lack of confidence in the stock's short-term performance, leading to a negative market reaction. The lowered price target further reinforces this sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100