ADT stock (ticker: ADT) tumbled 6.6% on Monday after Morgan Stanley downgraded its rating amid worries that Alphabet’s (GOOG) Google and other vendors could be siphoning sales.
Morgan Stanley analyst Toni Kaplan identifies ADT’s two biggest threats as Google’s Nest and SimpliSafe’s Ring products, which consumers can easily install at home. In a Monday note, the analyst downgraded ADT to Equal Weight from an Overweight rating and lowered its price target to $7 for $9. (ADT shares were recently trading at $5.95.) . more