B of A Securities Downgrades AlloVir to Underperform, Lowers Price Target to $1
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Jason Zemansky has downgraded AlloVir (NASDAQ:ALVR) from Buy to Underperform and significantly reduced the price target from $17 to $1, indicating a bearish outlook on the company's stock.
December 26, 2023 | 11:56 am
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AlloVir's stock rating has been downgraded by B of A Securities from Buy to Underperform, with a drastic reduction in price target from $17 to $1, suggesting a negative outlook.
The downgrade from Buy to Underperform represents a significant shift in sentiment from B of A Securities, likely due to concerns about AlloVir's future performance or market conditions. The substantial decrease in the price target from $17 to $1 is a strong indicator that the analyst expects the stock to perform poorly in the short term. This news is likely to negatively impact investor confidence and could lead to a decrease in AlloVir's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100