Citigroup Downgrades NexTier Oilfield to Neutral, Raises Price Target to $9.75
Portfolio Pulse from richadhand@benzinga.com
Citigroup analyst Scott Gruber downgrades NexTier Oilfield (NYSE:NEX) from Buy to Neutral and raises the price target from $9.5 to $9.75.
June 16, 2023 | 11:18 am
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Citigroup downgrades NexTier Oilfield (NYSE:NEX) to Neutral and raises the price target from $9.5 to $9.75.
Citigroup's downgrade of NexTier Oilfield to Neutral from Buy indicates a shift in the analyst's outlook on the stock. However, the price target increase from $9.5 to $9.75 suggests that the analyst still sees some potential for growth. The short-term impact on the stock price is likely to be neutral as the downgrade and price target increase offset each other.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100