- Morgan Stanley Analyst James Faucette lowered the price target on TaskUs ( TASK ) to $28 from $35, citing current macro uncertainty.
- The company is exposed to high-growth new economy technology company customers, particularly those that may be facing volume-related challenges, according to Faucette.
- TASK's growth is still above that of peers and the stock's valuation "does not appear challenging", the analyst said, keeping an Overweight rating on the company's shares.
- However, Seeking Alpha's Quant Rating system said the company has decelerating momentum and inferior profitability when compared to other information technology stocks, and has given it a Sell rating.
- The sell-side analysts have given the stocks a Buy rating an average, with an average price target of $38.75.
- The company's shares were trading ~5% lower.
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Morgan Stanley analyst lowers price target on TaskUs