JP Morgan Downgrades Sovos Brands to Neutral, Raises Price Target to $23
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Ken Goldman has downgraded Sovos Brands (NASDAQ:SOVO) from Overweight to Neutral, while raising the price target from $21 to $23.

August 08, 2023 | 8:53 am
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NEUTRAL IMPACT
Sovos Brands has been downgraded to Neutral from Overweight by JP Morgan, with a raised price target of $23.
The downgrade from JP Morgan could potentially lead to a short-term negative sentiment among investors, which might put downward pressure on the stock. However, the raised price target indicates a positive long-term outlook, which could offset the short-term impact.
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IMPORTANCE 80
RELEVANCE 100