CalAmp shares are trading lower after Jefferies downgraded the stock from Buy to Hold and lowered its price target from $5 to $2.
Portfolio Pulse from Benzinga Newsdesk
CalAmp shares are trading lower after Jefferies downgraded the stock from Buy to Hold and lowered its price target from $5 to $2.
June 26, 2023 | 3:03 pm
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Jefferies downgraded CalAmp's stock from Buy to Hold and reduced its price target from $5 to $2, causing the shares to trade lower.
The downgrade from Jefferies directly impacts CalAmp's stock price as it reflects a change in the analyst's outlook on the company's performance. The lower price target also indicates a reduced expectation for the stock's future value, causing investors to sell and the stock price to drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100