Jefferies Downgrades Clarus to Hold, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Randal Konik downgraded Clarus (NASDAQ:CLAR) from Buy to Hold and reduced the price target from $13 to $7, indicating a more cautious outlook on the company's stock.
January 04, 2024 | 1:07 pm
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Clarus Corporation was downgraded by Jefferies from Buy to Hold, with a significant reduction in price target from $13 to $7, suggesting a bearish view on the stock's future performance.
The downgrade by a prominent analyst like Randal Konik from Jefferies can have a negative impact on investor sentiment and the stock price of Clarus in the short term. The halving of the price target from $13 to $7 is a significant change that reflects a more bearish outlook on the company's valuation and future earnings potential. This could lead to a decrease in stock price as investors adjust their expectations.
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