Morgan Stanley Downgrades Flagstar Bank to Underweight Amid Turnaround Delays
Morgan Stanley has issued a double downgrade for Flagstar Bank (FLG), moving its rating from Overweight to Underweight. The analyst firm also significantly reduced the price target for the stock, cutting it from $15.00 to $12.00. The downgrade is primarily driven by concerns that sustained higher interest rates are delaying the bank's expected turnaround more than previously anticipated. Analysts indicated that further guidance regarding the company's performance through 2027 is expected as the firm reassesses its recovery timeline.
Topics: Interest Rates Price Target Cut Stock Downgrade
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