Citigroup Downgrades Sonder Holdings to Neutral, Announces $4 Price Target
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Ronald Josey downgraded Sonder Holdings (NASDAQ:SOND) from Buy to Neutral and set a price target of $4. The downgrade reflects a more cautious stance on the company's stock.
December 20, 2023 | 12:52 pm
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Citigroup analyst Ronald Josey downgraded Sonder Holdings to Neutral from Buy and set a price target of $4, indicating a more conservative outlook on the stock.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less optimistic view of the company's future performance. The new price target of $4 also provides a benchmark that may influence investor expectations and trading behavior.
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