UPDATE: Morgan Stanley Upgrades Clarivate Plc (CLVT) to Overweight
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Morgan Stanley analyst Toni Kaplan upgraded Clarivate Plc (NYSE: CLVT) from Equalweight to Overweight with a price target of $28.00 (from $28.00).
The analyst comments "We are upgrading Clarivateto Overweight (from Equal-weight) with a $28 PT, as we see the recent pullback in shares as an attractive entry point. Shares dropped as organic growth slowed to 2.4% - missing management's 4Q20 organic growth target of 4%. This has brought increased skepticism of whether CLVT will be able to achieve its 6-8% organic growth target exiting 2021, leading to a 24% decline in the stock price following its earnings announcement. We believe this is an over-reaction,and expect CLVT to be able to achieve the low end of its target this year."
Shares of Clarivate Plc closed at $21.28 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesMorgan Stanley, Earnings
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