UPDATE: Morgan Stanley Downgrades ADT (ADT) to Equalweight

(updated to add analyst comment)

Morgan Stanley analyst Toni Kaplan downgraded ADT (NYSE: ADT) from Overweight to Equalweight with a price target of $7.00 (from $9.00).

The analyst steps aside following recent takeaways from AlphaWise survey:

• Homeowners seem as inclined to buy DIY systems as ADT systems;
• More ADT customers switched to DIY providers than she would have expected; and
• Net promoter scores (a proxy for brand preference) for Ring and Nest were ~10 points higher than for ADT.

For an analyst ratings summary and ratings history on ADT click here. For more ratings news on ADT click here.

Shares of ADT closed at $6.37 yesterday.

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