Telsey Advisory Group Downgrades Sovos Brands to Market Perform, Raises Price Target to $23
Portfolio Pulse from Benzinga Newsdesk
Telsey Advisory Group has downgraded Sovos Brands (NASDAQ:SOVO) from Outperform to Market Perform, while raising the price target from $22 to $23.

August 08, 2023 | 8:31 am
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Sovos Brands has been downgraded by Telsey Advisory Group, but the price target has been raised.
The downgrade from Outperform to Market Perform suggests that the analyst believes the stock will perform similarly to other stocks in the market, rather than outperforming them. However, the increase in price target from $22 to $23 indicates a positive outlook on the stock's future price. This mixed signal could lead to neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100