UPDATE: Morgan Stanley Upgrades Clarivate Plc (CLVT) to Overweight

March 8, 2021 2:49 AM EST
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Price: $25.55 +2.73%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 24 | New: 32
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(Updated - March 8, 2021 4:48 AM EST)

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."

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

Shares of Clarivate Plc closed at $21.28 yesterday.

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