Allbirds price target lowered to $1 from $4 at Morgan Stanley

Morgan Stanley analyst Alex Straton lowered the firm’s price target on Allbirds to $1 from $4 and keeps an Equal Weight rating on the shares. The company’s Q4 report "cast further doubt" on Allbirds’s "already unclear path to profitability," says the analyst, who is now taking a more conservative approach to modeling mid-term results and long-term discounted cash flow assumptions.