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Cognex downgraded to Underweight from Equal Weight at Morgan Stanley
The Fly

Cognex downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Joshua Pokrzywinski downgraded Cognex to Underweight from Equal Weight with a price target of $40, down from $41. He believes results for Cognex’s logistics business could be "much worse" than is implied in consensus, Pokrzywinski tells investors. Consensus forecasts for revenue growth currently estimate a logistics market that is roughly flat in 2023, but he believes the market could be "materially worse than that" and he sees a more muted recovery in 2024, Pokrzywinski stated.

Published first on TheFly

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