Goldman Sachs Downgrades Gates Industrial Corp to Neutral, Lowers Price Target to $14.5
Portfolio Pulse from richadhand@benzinga.com
Goldman Sachs analyst Jerry Revich downgraded Gates Industrial Corp (NYSE: GTES) from Buy to Neutral and lowered the price target from $15.5 to $14.5.
June 20, 2023 | 9:30 am
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Goldman Sachs downgraded Gates Industrial Corp (GTES) to Neutral and reduced the price target from $15.5 to $14.5.
The downgrade from Buy to Neutral by Goldman Sachs analyst Jerry Revich indicates a less optimistic outlook for Gates Industrial Corp. The lowered price target from $15.5 to $14.5 suggests that the analyst believes the stock has limited upside potential in the short term. This news is likely to have a negative impact on GTES stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100