Bandwidth shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $18 to $15.
Portfolio Pulse from Benzinga Newsdesk
Bandwidth shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $18 to $15.
June 14, 2024 | 4:03 pm
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NEGATIVE IMPACT
Morgan Stanley downgraded Bandwidth from Equal-Weight to Underweight and reduced its price target from $18 to $15, causing the stock to trade lower.
The downgrade by a major financial institution like Morgan Stanley and the reduction in the price target are likely to negatively impact investor sentiment and lead to a short-term decline in Bandwidth's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100