BMO Capital Downgrades Immunogen to Market Perform, Announces $31 Price Target
Portfolio Pulse from Benzinga Newsdesk
BMO Capital analyst Etzer Darout has downgraded Immunogen (NASDAQ:IMGN) from Outperform to Market Perform and set a price target of $31. This change reflects a revised outlook on the company's stock by the analyst.
December 01, 2023 | 9:26 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Immunogen was downgraded by BMO Capital from Outperform to Market Perform with a new price target of $31, indicating a neutral outlook on the stock's short-term performance.
Downgrades by analysts can often lead to a negative perception among investors, potentially impacting the stock price. However, the establishment of a price target can sometimes offset the negative sentiment if the target suggests an upside. In this case, the price target of $31 may provide a cushion against the downgrade's negative impact, leading to a neutral short-term score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100