B of A Securities Downgrades ProKidney to Neutral, Lowers Price Target to $2
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Jason Gerberry downgraded ProKidney (NASDAQ:PROK) from Buy to Neutral and reduced the price target from $8 to $2.
January 02, 2024 | 2:08 pm
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ProKidney's downgrade from Buy to Neutral by B of A Securities and the significant reduction in price target from $8 to $2 could negatively impact investor sentiment and the stock's short-term price.
Downgrades by analysts, especially with a substantial decrease in price target, often lead to a negative perception among investors and can result in a short-term decline in the stock price. The adjustment from $8 to $2 is a significant change that suggests a more bearish outlook on ProKidney's value, which could lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100