JP Morgan Downgrades Plymouth Industrial REIT to Underweight, Raises Price Target to $25
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Michael Mueller downgraded Plymouth Industrial REIT (NYSE:PLYM) from Neutral to Underweight but increased the price target from $23 to $25.
December 18, 2023 | 10:43 am
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Plymouth Industrial REIT was downgraded by JP Morgan from Neutral to Underweight, although the price target was raised from $23 to $25.
The downgrade to Underweight suggests that JP Morgan analysts believe PLYM will underperform relative to the market or its sector, which could lead to a negative short-term impact on the stock price. However, the increase in the price target indicates a belief that the stock still has potential to grow in value, albeit at a potentially slower pace than its peers. The mixed nature of this news may lead to uncertainty and a potential decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100