Stephens & Co. Downgrades Stagwell to Equal-Weight, Lowers Price Target to $8
Portfolio Pulse from richadhand@benzinga.com
Stephens & Co. analyst Nicholas Zangler has downgraded Stagwell (NASDAQ:STGW) from Overweight to Equal-Weight and lowered the price target from $11 to $8.
August 09, 2023 | 12:34 pm
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Stagwell has been downgraded by Stephens & Co. and its price target has been lowered, which could negatively impact its stock price.
The downgrade from Overweight to Equal-Weight by Stephens & Co. analyst Nicholas Zangler indicates a less optimistic outlook for Stagwell. Additionally, the lowering of the price target from $11 to $8 suggests that the analyst believes the stock is overvalued at its current price, which could lead to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100