Mesoblast stock falls 10% as Jefferies cuts rating to Hold
Mesoblast (NASDAQ:MESO) stock fell ~10% on Tuesday after Jefferies Financial Group downgraded the shares to Hold from Buy, with an unchanged price target of A$1.25, citing recent share price outperformance.
The SA Quant Rating on the shares is Hold, the rating is in contrast to the average Wall Street Analysts' rating of Buy. YTD, the stock has fallen ~33%, see chart here.
Analyst David Stanton noted that he continues to value the Australian company's late-stage pipeline at A$1.25 and made no changes to his forecast and timelines for approval of Mesoblast's main opportunities.