Morgan Stanley analyst Manan Gosalia lowered the firm’s price target on Webster Financial (WBS) to $66 from $75 and keeps an Equal Weight rating on the shares. The firm is reducing its estimates on Midcap Banks in North America under its coverage given higher uncertainty and slower economic growth outlook, the analyst tells investors. Trade and tariff policy changes are occurring sooner and more forcefully than previously anticipated, Morgan Stanley states. Additionally, the firm notes a slower pace of economic growth and higher level of policy uncertainty is a headwind for the sector, leading to many price target cuts in the group.
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Read More on WBS:
- Webster Financial price target lowered to $67 from $68 at BofA
- Webster Financial Corp’s Optimistic Earnings Call Review
- Webster Financial price target raised to $68 from $66 at RBC Capital
- Webster Financial’s Strong Q4 2024 Performance Despite Challenges
- Webster Financial sees FY25 NII $2.45B-$2.50B
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