Morgan Stanley shares are trading lower. Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $99 to $95.
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley shares are trading lower after Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $99 to $95.
August 02, 2024 | 7:21 pm
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Morgan Stanley shares are trading lower following a downgrade by Wells Fargo from Equal-Weight to Underweight, with a reduced price target from $99 to $95.
The downgrade by Wells Fargo from Equal-Weight to Underweight and the reduction in the price target from $99 to $95 is likely to negatively impact Morgan Stanley's stock price in the short term. Downgrades and lower price targets typically signal reduced confidence in the stock's performance, leading to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100