BellRing Brands shares are trading lower after Truist Securities downgraded the stock from Buy to Hold and lowered its price target from $55 to $50.
Portfolio Pulse from Benzinga Newsdesk
BellRing Brands' stock (BRBR) trades lower following a downgrade from Buy to Hold by Truist Securities, which also reduced its price target from $55 to $50.
January 03, 2024 | 5:46 pm
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NEGATIVE IMPACT
BellRing Brands' stock price is likely to experience downward pressure in the short term due to the downgrade by Truist Securities and a lowered price target.
Analyst downgrades typically lead to a negative perception among investors, which can result in a short-term decline in the stock price. The reduction in the price target further reinforces the expectation of a lower valuation, adding to the selling pressure.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100