Goldman Sachs Downgrades Grocery Outlet Holding to Sell, Lowers Price Target to $24
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Kate McShane downgraded Grocery Outlet Holding (NASDAQ:GO) from Buy to Sell and reduced the price target from $33 to $24, indicating a bearish outlook on the stock.

December 12, 2023 | 10:49 am
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Goldman Sachs downgraded Grocery Outlet Holding from Buy to Sell and lowered the price target from $33 to $24, suggesting a negative sentiment towards the company's stock.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less favorable outlook for the company's future performance. The reduction in the price target further emphasizes the analyst's bearish stance, which may influence investor sentiment and result in a decrease in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100