Keefe, Bruyette & Woods Downgrades New York Community to Market Perform, Announces $12 Price Target
Portfolio Pulse from Benzinga Newsdesk
Keefe, Bruyette & Woods analyst Christopher McGratty downgraded New York Community Bancorp (NYSE:NYCB) from Outperform to Market Perform and set a price target of $12. The downgrade reflects a more cautious outlook on the bank's stock by the analyst.
December 18, 2023 | 9:36 am
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New York Community Bancorp was downgraded from Outperform to Market Perform by Keefe, Bruyette & Woods, with a new price target of $12.
Downgrades by analysts can lead to a negative perception among investors and potentially cause a short-term decline in the stock price. The new price target of $12 also suggests a limited upside potential from the current trading levels, which could further dampen investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100