General Motors shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $47 to $42.
Portfolio Pulse from Benzinga Newsdesk
General Motors shares declined following a downgrade by Morgan Stanley from Equal-Weight to Underweight, with a reduced price target from $47 to $42.
September 25, 2024 | 11:58 am
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General Motors shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and reduced its price target from $47 to $42.
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 impact on the stock price. The reduction in the price target further supports this bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100