Goldman Sachs Downgrades BanColombia to Neutral, Lowers Price Target to $31
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Tito Labarta has downgraded BanColombia (NYSE:CIB) from Buy to Neutral and lowered the price target from $35 to $31.
September 21, 2023 | 8:35 am
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NEGATIVE IMPACT
BanColombia's rating has been downgraded by Goldman Sachs from Buy to Neutral, with a lowered price target of $31.
The downgrade from Goldman Sachs, a major financial institution, could negatively impact investor sentiment towards BanColombia. The lowered price target suggests that Goldman Sachs sees less upside potential in the stock, which could lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100