Allbirds price target lowered to $13 from $20 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Allbirds to $13 from $20 and keeps an Equal Weight rating on the shares. The firm adjusts its price target as a result of the recently announced 1-for-20 reverse stock split and the roll-forward of its model, telling investors that it adjusted its FY25 forecast to reflect more conservative topline growth and more moderate adjusted EBITDA margin expansion.