JP Morgan Downgrades Adicet Bio to Neutral, Lowers Price Target to $6
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Brian Cheng downgraded Adicet Bio (NASDAQ:ACET) from Overweight to Neutral and lowered the price target from $20 to $6.
June 01, 2023 | 10:11 am
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Adicet Bio (NASDAQ:ACET) was downgraded by JP Morgan from Overweight to Neutral, with a reduced price target of $6.
The downgrade from Overweight to Neutral by JP Morgan analyst Brian Cheng indicates a less favorable outlook for Adicet Bio. The significant reduction in the price target from $20 to $6 suggests that the analyst believes the stock is overvalued, which could lead to a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100