Morgan Stanley thinks Wall Street overreacted to Kornit Digital's latest revenue guidance, and shares in the Israeli fabric printing company now present a favorable buying opportunity.
Morgan Stanley's forecast implies more than 30% upside from Wednesday's $22.23 close.
Kornit Digital shares are 6.6% higher in 2023 after climbing more than 10% early Thursday.
KRNT YTD mountain Kornit Digital stock has shed 3.2% from the start of the year.
But Morgan Stanley analyst Erik Woodring says the market reaction to Kornit's lower second-half revenue forecast, which he says came in 7% below consensus estimates, was too severe.
Persons:
Morgan Stanley, Kornit, Morgan Stanley's, Erik Woodring, Woodring, — CNBC's Michael Bloom
Organizations:
Kornit, FactSet, Textile Machinery Association