Deutsche Bank Downgrades Local Bounti to Hold, Lowers Price Target to $1
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Christopher Barnes has downgraded Local Bounti (NYSE:LOCL) from Buy to Hold and lowered the price target from $6 to $1.
October 31, 2023 | 10:09 am
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NEGATIVE IMPACT
Local Bounti's stock rating has been downgraded from Buy to Hold by Deutsche Bank, with a lowered price target from $6 to $1.
The downgrade from Buy to Hold by Deutsche Bank indicates a less optimistic outlook for Local Bounti's stock. The significant reduction in the price target from $6 to $1 suggests that the bank expects the stock's value to decrease in the short term. This could negatively impact investor sentiment and potentially lead to a decrease in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100