Baxter International shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $39 to $30.
Portfolio Pulse from Benzinga Newsdesk
Baxter International shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $39 to $30.
July 15, 2024 | 10:43 am
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Morgan Stanley downgraded Baxter International from Equal-Weight to Underweight and reduced its price target from $39 to $30, causing the shares to trade lower.
The downgrade from a major financial institution like Morgan Stanley typically signals a lack of confidence in the company's near-term performance, leading to a negative market reaction. The lowered price target further reinforces this sentiment, causing shares to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100