Guggenheim Downgrades Exelon to Neutral, Announces $40 Price Target
Portfolio Pulse from Benzinga Newsdesk
Guggenheim analyst Shahriar Pourreza has downgraded Exelon (NASDAQ:EXC) from Buy to Neutral and set a price target of $40. This change reflects a revised outlook on the company's stock by the analyst.
December 15, 2023 | 1:35 pm
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Exelon Corporation's stock rating has been downgraded by Guggenheim analyst Shahriar Pourreza from Buy to Neutral, with a price target set at $40.
A downgrade from Buy to Neutral typically indicates a less optimistic view on the stock's future performance and can lead to a negative investor sentiment in the short term. The announcement of a specific price target provides a benchmark that may influence trading behavior. Given that the downgrade comes from a reputable analyst at Guggenheim, it is likely to be taken seriously by the market, potentially leading to a decrease in stock price.
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