Albemarle shares are trading lower after Piper Sandler downgraded the stock from Neutral to Underweight and lowered its price target from $140 to $128.
Portfolio Pulse from Benzinga Newsdesk
Albemarle Corporation's stock (ALB) trades lower following a downgrade by Piper Sandler from Neutral to Underweight, with a reduced price target from $140 to $128.
December 05, 2023 | 5:16 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Piper Sandler downgraded Albemarle Corporation (ALB) from Neutral to Underweight and lowered the price target from $140 to $128, leading to a decline in the stock's trading price.
Analyst downgrades typically lead to a negative short-term impact on the stock price as they suggest a less favorable outlook for the company. The reduction in the price target further implies that the analyst sees limited upside potential or increased risk, which can lead to a decrease in investor confidence and selling pressure on the stock.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100