Keybanc Downgrades Watsco to Sector Weight
Portfolio Pulse from richadhand@benzinga.com
Keybanc analyst Jeffrey Hammond has downgraded Watsco (NYSE:WSO) from Overweight to Sector Weight.
July 10, 2023 | 9:01 am
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Watsco has been downgraded by Keybanc from Overweight to Sector Weight, which may negatively impact its stock price.
Analyst ratings often influence the market's perception of a company. A downgrade from Overweight to Sector Weight suggests that the analyst believes the company's stock is expected to perform in line with the average return of the sector over the medium term. This could lead to a sell-off from investors who were expecting the stock to outperform the sector, potentially leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100