Raymond James Downgrades Mercury General to Outperform, Lowers Price Target to $33
Portfolio Pulse from richadhand@benzinga.com
Raymond James analyst C. Gregory Peters has downgraded Mercury General (NYSE:MCY) from Strong Buy to Outperform and lowered the price target from $40 to $33.
July 07, 2023 | 11:23 am
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NEGATIVE IMPACT
Mercury General's rating has been downgraded from Strong Buy to Outperform by Raymond James, with a lowered price target from $40 to $33.
The downgrade from Strong Buy to Outperform indicates a less bullish stance from Raymond James towards Mercury General. The lowering of the price target from $40 to $33 also suggests that the analyst sees less upside potential in the stock, which could negatively impact its short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100