Morgan Stanley Maintains Underweight on Weibo, Lowers Price Target to $7.5
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Alex Poon maintains an Underweight rating on Weibo (NASDAQ:WB) and lowers the price target from $8 to $7.5.
August 23, 2024 | 4:22 pm
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Morgan Stanley has maintained its Underweight rating on Weibo and reduced the price target from $8 to $7.5, indicating a bearish outlook.
The reduction in price target from $8 to $7.5 by Morgan Stanley suggests a negative outlook on Weibo's stock performance. The Underweight rating indicates that the analyst expects the stock to underperform relative to the market. This is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100