B of A Securities Downgrades Gerdau to Neutral, Lowers Price Target to $5.1
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Caio Ribeiro downgraded Gerdau (NYSE:GGB) from Buy to Neutral and reduced the price target from $5.6 to $5.1.
November 20, 2023 | 12:15 pm
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Gerdau downgraded by B of A Securities from Buy to Neutral with a price target decrease from $5.6 to $5.1.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further supports the expectation of a downward movement in Gerdau's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100