Jefferies Initiates Coverage On Ultrapar Participacoes with Underperform Rating, Announces Price Target of $3.3
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Alejandro Demichelis has initiated coverage on Ultrapar Participacoes (NYSE:UGP) with an Underperform rating and a price target of $3.3.
September 21, 2023 | 9:13 am
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Jefferies has initiated coverage on Ultrapar Participacoes with an Underperform rating and a price target of $3.3, which could negatively impact the stock's performance.
The Underperform rating from Jefferies indicates that the analyst believes Ultrapar Participacoes' stock will do worse than the market average. This could lead to a decrease in the stock's price. The price target of $3.3 also suggests that the analyst believes the stock is currently overvalued, which could further drive down the price.
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