PagSeguro Digital shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $14 to $6.5.
Portfolio Pulse from Benzinga Newsdesk
PagSeguro Digital shares fell after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and reduced its price target from $14 to $6.5.
September 05, 2024 | 5:43 pm
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Morgan Stanley downgraded PagSeguro Digital from Equal-Weight to Underweight, reducing the price target from $14 to $6.5, causing shares to trade lower.
The downgrade by a major financial institution like Morgan Stanley typically signals a lack of confidence in the stock's short-term performance, leading to a negative market reaction. The significant reduction in the price target further emphasizes the bearish outlook, likely causing investors to sell off shares, driving the price down.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100