Mizuho Downgrades Callon Petroleum to Neutral, Announces $40 Price Target
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Nitin Kumar has downgraded Callon Petroleum (CPE) from Buy to Neutral and set a price target of $40. This reflects a change in Mizuho's outlook on the company's stock.
January 03, 2024 | 2:34 pm
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Mizuho analyst Nitin Kumar downgraded Callon Petroleum from Buy to Neutral and set a price target of $40, indicating a more cautious view on the stock's future performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic outlook on the company's future earnings potential and stock performance. The new price target of $40 provides a benchmark that may influence investor expectations and trading behavior.
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