Deutsche Bank Downgrades Local Bounti: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Deutsche Bank has downgraded its rating of Local Bounti (NYSE:LOCL) to Hold with a new price target of $1.00, a significant decrease from the previous target of $6.00. Local Bounti's shares are currently trading at $1.26, up 1.82% over the last 24 hours.
October 31, 2023 | 5:00 pm
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NEGATIVE IMPACT
Deutsche Bank's downgrade of Local Bounti to Hold and a lower price target could potentially impact the company's stock negatively in the short term.
Analyst ratings often influence investor sentiment and can impact a company's stock price. Deutsche Bank's downgrade of Local Bounti and the significant reduction in price target could lead to a decrease in investor confidence, potentially causing a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100