StoneCo shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $16.5 to $7.
Portfolio Pulse from Benzinga Newsdesk
StoneCo shares fell after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and reduced its price target from $16.5 to $7.
September 05, 2024 | 1:51 pm
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Morgan Stanley downgraded StoneCo from Equal-Weight to Underweight and cut its price target from $16.5 to $7, leading to a decline in share price.
The downgrade by a major financial institution like Morgan Stanley is likely to negatively impact investor sentiment and lead to a decrease in StoneCo's stock price. The significant reduction in the price target from $16.5 to $7 suggests a bearish outlook, contributing to the stock's decline.
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IMPORTANCE 90
RELEVANCE 100