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TrueCar (TRUE) Stock Downgraded at Morgan Stanley

NEW YORK (TheStreet) -- Shares of TrueCar (TRUE) were dropping in mid-morning trade on Monday as Morgan Stanley trimmed its rating on the shares to "underweight" from "equal weight."

Additionally, the firm upped its price target on the stock to $6.40 from $5.

Morgan Stanley said that the Santa Monica, CA-based vehicle website's valuations have gotten ahead of its fundamentals.

The firm also downgraded the general Internet industry from "attractive" to "in-line," noting that "multiple expansion will be a more...


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