UPDATE: Morgan Stanley Downgrades OpenTable on Challenges Ahead
September 05, 2013 at 10:43 AM EDT
In a report published Thursday, Morgan Stanley analyst Scott Devitt downgraded the rating on OpenTable (NASDAQ: OPEN ) from Equal-Weight to Underweight, but raised the price target from $50.00 to $60.00. In the report, Morgan Stanley noted, “We downgrade OpenTable to Underweight, as the company has relatively high penetration of