Morgan Stanley analyst Toni Kaplan downgraded Clarivate to Equal Weight from Overweight with a price target of $12, up from $11. The analyst views the stock’s valuation as "fair" following the 34% rally year-to-date. The firm sees a lack of clarity on whether Clarivate will be successful in its turnaround efforts. The company’s leverage is high and the shares lack a near-term catalyst, the analyst tells investors in a research note.
Published first on TheFly
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