JP Morgan Downgrades Summit Materials to Underweight, Raises Price Target to $37
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Adrian Heurta has downgraded Summit Materials (NYSE:SUM) from Neutral to Underweight, while raising the price target from $32 to $37.
July 06, 2023 | 9:32 am
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NEGATIVE IMPACT
Summit Materials has been downgraded to Underweight from Neutral by JP Morgan, with a raised price target of $37.
The downgrade from JP Morgan could potentially lead to a decrease in the stock price of Summit Materials in the short term. However, the raised price target indicates a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100