Morgan Stanley Maintains Underweight on ON Semiconductor, Raises Price Target to $64
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Joseph Moore maintains an Underweight rating on ON Semiconductor but raises the price target from $63 to $64.
October 29, 2024 | 11:19 am
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NEUTRAL IMPACT
Morgan Stanley's analyst Joseph Moore maintains an Underweight rating on ON Semiconductor, indicating a cautious outlook. However, the price target is slightly increased from $63 to $64, suggesting a modestly improved valuation.
The Underweight rating suggests a negative outlook, but the slight increase in the price target indicates some positive factors may be at play. The impact on the stock price is likely neutral as the mixed signals balance each other out.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100