JP Morgan Downgrades Afya to Neutral, Raises Price Target to $23
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Marcelo Santos has downgraded Afya (NASDAQ:AFYA) from Overweight to Neutral while increasing the price target from $22 to $23.
November 27, 2023 | 11:05 am
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NEUTRAL IMPACT
Afya's stock rating has been downgraded by JP Morgan from Overweight to Neutral, although the price target has been raised from $22 to $23.
The downgrade to Neutral suggests that JP Morgan sees limited upside potential for Afya's stock, which could lead to a neutral short-term impact on the stock price. However, the increase in the price target to $23 indicates a slightly more optimistic valuation of the company, which could balance out the negative sentiment from the downgrade.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100