Morgan Stanley Downgrades StoneCo to Underweight, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has downgraded StoneCo from Equal-Weight to Underweight and significantly lowered its price target from $16.5 to $7.

September 05, 2024 | 11:08 am
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Morgan Stanley analyst Jorge Kuri downgraded StoneCo from Equal-Weight to Underweight, reducing the price target from $16.5 to $7, indicating a negative outlook.
The downgrade from Equal-Weight to Underweight by a major financial institution like Morgan Stanley, along with a significant reduction in the price target, suggests a negative outlook for StoneCo. This is likely to lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100