Mizuho Downgrades Agree Realty to Neutral, Lowers Price Target to $61
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Haendel St. Juste has downgraded Agree Realty (NYSE:ADC) from Buy to Neutral and reduced the price target from $67 to $61.
December 11, 2023 | 11:58 am
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NEGATIVE IMPACT
Agree Realty has been downgraded by Mizuho from Buy to Neutral, with a price target decrease from $67 to $61.
The downgrade by a prominent analyst from Mizuho is likely to influence investor sentiment negatively in the short term, leading to potential downward pressure on Agree Realty's stock price. The reduction in the price target further suggests a lower expected valuation, which could result in a decrease in stock price as the market adjusts to the new analyst expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100