Citigroup Downgrades Ecopetrol to Neutral, Announces $12.5 Price Target
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Andres Cardona has downgraded Ecopetrol (NYSE:EC) from Buy to Neutral and announced a price target of $12.5.
September 13, 2023 | 2:00 pm
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NEGATIVE IMPACT
Ecopetrol's stock rating has been downgraded by Citigroup from Buy to Neutral, with a new price target set at $12.5.
The downgrade from Buy to Neutral by Citigroup indicates a less optimistic outlook for Ecopetrol's stock in the short term. This could potentially lead to a decrease in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Citigroup analyst Andres Cardona has downgraded Ecopetrol's stock rating from Buy to Neutral and set a new price target.
As the issuer of the downgrade, this news is relevant to Citigroup. However, it's not expected to have a significant impact on Citigroup's own stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50