HSBC Downgrades ASE Tech Holding Co to Reduce, Announces $6.47 Price Target
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Ted Lin has downgraded ASE Tech Holding Co (NYSE:ASX) from Hold to Reduce and set a price target of $6.47.
June 28, 2023 | 4:19 pm
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HSBC's downgrade of ASE Tech Holding Co to Reduce and a price target of $6.47 could negatively impact the company's stock price.
Analyst ratings often influence investor sentiment. A downgrade from Hold to Reduce indicates that the analyst believes the stock's future performance could be weak. The set price target of $6.47 also suggests that the analyst expects the stock price to decrease. This could lead to a sell-off, negatively impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100