Stifel Downgrades Sovos Brands to Hold, Raises Price Target to $23
Portfolio Pulse from richadhand@benzinga.com
Stifel analyst Matthew Smith has downgraded Sovos Brands (NASDAQ:SOVO) from Buy to Hold, while raising the price target from $21 to $23.
August 08, 2023 | 8:59 am
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NEUTRAL IMPACT
Sovos Brands has been downgraded from Buy to Hold by Stifel, but the price target has been raised from $21 to $23.
The downgrade from Buy to Hold suggests that the analyst sees limited upside potential in the short term. However, the increase in price target indicates that the analyst still sees some long-term value in the stock. This could lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100