Piper Sandler Downgrades Kingstone Companies to Underweight, Raises Price Target to $1.75
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Paul Newsome downgraded Kingstone Companies (KINS) from Neutral to Underweight but raised the price target from $1.2 to $1.75.
November 20, 2023 | 9:59 am
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NEGATIVE IMPACT
Kingstone Companies was downgraded by Piper Sandler from Neutral to Underweight, although the price target was increased from $1.2 to $1.75.
The downgrade to Underweight suggests that Piper Sandler believes KINS will underperform the market or its sector, which could lead to negative investor sentiment and a potential decrease in the stock price in the short term. However, the increase in the price target indicates a belief that the stock still has potential to grow from its previous target, which may mitigate some negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100