Agiliti price target lowered to $8 from $10 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Agiliti to $8 from $10 and keeps an Underweight rating on the shares. Though the firm no longer sees “absolute downside in our base case,” it believes “there is still wood to chop for internal initiatives to recover margin and reposition businesses” and its FY24 revenue and adjusted EBITDA estimates imply revenue growth still in the low-to mid-single digits and adjusted EBITDA margin at 21%.