Morgan Stanley analyst Josh Baer lowered the firm’s price target on Chegg (CHGG) to $1 from $1.25 and keeps an Underweight rating on the shares. Q1 guidance “meaningfully missed consensus,” which is likely to cause material negative consensus estimate revisions in 2025 and beyond, the analyst tells investors. The firm lowered its “Street low” estimates, driving its decreased price target the analyst noted following earnings.
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