BP shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered its price target from $49.9 to $41.50.
Portfolio Pulse from Benzinga Newsdesk
BP shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered its price target from $49.9 to $41.50.
July 15, 2024 | 10:43 am
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NEGATIVE IMPACT
BP shares are trading lower following a downgrade by Morgan Stanley from Overweight to Equal-Weight, with a reduced price target from $49.9 to $41.50.
The downgrade by a major financial institution like Morgan Stanley and the significant reduction in the price target are likely to negatively impact BP's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100