Noodles & Company shares are trading lower after the company announced CFO Carl Lukach will depart the company. Also, Stephens & Co downgraded the stock from Overweight to Equal-Weight and lowered its price target from $7 to $5.
Portfolio Pulse from Benzinga Newsdesk
Noodles & Company shares dropped after the announcement of CFO Carl Lukach's departure and a downgrade by Stephens & Co from Overweight to Equal-Weight, with a reduced price target from $7 to $5.
May 19, 2023 | 2:12 pm
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NEGATIVE IMPACT
Noodles & Company's stock price is negatively impacted by the departure of CFO Carl Lukach and a downgrade by Stephens & Co.
The departure of CFO Carl Lukach is a significant event for Noodles & Company, as it may cause uncertainty in the company's financial management. Additionally, the downgrade by Stephens & Co and the lowered price target indicate a less favorable outlook for the stock, which may lead to a decrease in its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100