BrightSpring Health Services Inc. (BTSG) shares are surging 6.97% in pre-market trading on Friday, following a significant price target upgrade from Morgan Stanley. The investment bank raised its target price for BTSG to $25 from the previous $20, maintaining an Overweight rating on the stock.
The upward revision in price target reflects growing confidence in BrightSpring's business prospects and potential for share price appreciation. This bullish stance from a major Wall Street firm appears to be driving investor enthusiasm, resulting in the substantial pre-market gain.
Adding to the positive sentiment, analysts polled by FactSet have given BrightSpring Health Services an average rating of "Buy" with a mean price target of $25.84. This consensus view aligns closely with Morgan Stanley's new target, suggesting broader market optimism about the company's future performance. As BrightSpring continues to attract favorable analyst attention, investors will be watching closely to see if the stock can maintain its upward momentum when regular trading begins.
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