Piper Sandler Downgrades Sovos Brands to Neutral, Raises Price Target to $23
Portfolio Pulse from richadhand@benzinga.com
Piper Sandler analyst Michael Lavery has downgraded Sovos Brands from Overweight to Neutral, while raising the price target from $20 to $23.
August 09, 2023 | 9:16 am
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NEUTRAL IMPACT
Sovos Brands has been downgraded to Neutral from Overweight by Piper Sandler, but the price target has been raised from $20 to $23.
The downgrade to Neutral suggests that Piper Sandler sees limited upside potential for Sovos Brands in the near term. However, the increase in price target from $20 to $23 indicates that the analyst still sees some potential for the stock to appreciate, albeit at a slower pace. This could lead to a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100