Torrid Holdings shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and maintained its $5 price target.
Portfolio Pulse from Benzinga Newsdesk
Torrid Holdings shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and maintained its $5 price target.
July 18, 2024 | 2:19 pm
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NEGATIVE IMPACT
Morgan Stanley downgraded Torrid Holdings from Equal-Weight to Underweight, maintaining a $5 price target, causing the stock to trade lower.
The downgrade from a major financial institution like Morgan Stanley typically signals a lack of confidence in the stock's near-term performance, leading to a negative market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100