Piper Sandler Downgrades Farmers & Merchants to Underweight, Lowers Price Target to $23.5
Portfolio Pulse from richadhand@benzinga.com
Piper Sandler analyst Brendan Nosal has downgraded Farmers & Merchants (NASDAQ:FMAO) from Neutral to Underweight and lowered the price target from $24 to $23.5.
July 28, 2023 | 9:25 am
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NEGATIVE IMPACT
Farmers & Merchants has been downgraded to Underweight from Neutral by Piper Sandler, with a lowered price target of $23.5.
The downgrade from Neutral to Underweight by Piper Sandler indicates a negative outlook for Farmers & Merchants. The lowered price target from $24 to $23.5 also suggests that the analyst believes the stock is overvalued at current levels, which could put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100