BUZZ-Chegg falls after Morgan Stanley downgrade, PT cut

Reuters
01-15
BUZZ-Chegg falls after <a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> downgrade, PT cut

** Shares of online learning platform Chegg Inc CHGG.N down 8% to $1.49

** Brokerage Morgan Stanley downgrades the stock to "underweight", cuts stock PT to $1.25 from $2

** The market is not appropriately pricing in the material step-down in demand trends - Morgan Stanley

** The latest deterioration caused by changes in the internet search experience, with AI-generated content displayed at the top of search results pages, effectively disintermediating content sites like Chegg - brokerage

** Eight of 11 brokerages rate the stock "hold" and three rate it "sell" or lower; their median PT is $1.50 according to data compiled by LSEG

** CHGG fell ~86% in 2024

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com;))

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