DA Davidson Downgrades Sandy Spring Bancorp to Neutral, Lowers Price Target to $22
Portfolio Pulse from Benzinga Newsdesk
DA Davidson analyst Manuel Navas has downgraded Sandy Spring Bancorp (NASDAQ:SASR) from Buy to Neutral and lowered the price target from $28 to $22.
October 02, 2023 | 12:10 pm
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Sandy Spring Bancorp has been downgraded from Buy to Neutral by DA Davidson analyst Manuel Navas, with a lowered price target from $28 to $22.
The downgrade from Buy to Neutral indicates a less optimistic outlook for the company's stock, which could lead to a decrease in demand and potentially a decrease in the stock price. The lowered price target also suggests that the analyst believes the stock is currently overvalued, which could further discourage investment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100