B of A Securities Downgrades Cactus to Underperform, Raises Price Target to $47
Portfolio Pulse from Benzinga Newsdesk
B of A Securities has downgraded Cactus (NYSE:WHD) from Neutral to Underperform, while raising the price target from $46 to $47.
October 16, 2023 | 2:17 pm
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Cactus has been downgraded to Underperform by B of A Securities, which could negatively impact the stock. However, the price target has been raised to $47.
The downgrade from Neutral to Underperform suggests that B of A Securities believes Cactus' stock will underperform the market or its sector in the near term. This could lead to a decrease in the stock's price. However, the increase in the price target from $46 to $47 indicates a belief that the stock has potential for growth, which could mitigate some of the negative impact of the downgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100