B of A Securities Downgrades Vita Coco to Neutral, Raises Price Target to $32
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Bryan Spillane has downgraded Vita Coco (NASDAQ:COCO) from Buy to Neutral, while raising the price target from $25 to $32.
August 04, 2023 | 12:39 pm
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NEUTRAL IMPACT
Vita Coco has been downgraded to Neutral from Buy by B of A Securities, but the price target has been raised from $25 to $32.
The downgrade to Neutral suggests that the analyst sees limited upside potential for the stock in the near term. However, the increase in price target from $25 to $32 indicates that the analyst still sees some potential for the stock's price to increase, albeit at a slower pace. This could lead to a neutral short-term impact on the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100