Jefferies Downgrades Guess: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Jefferies has downgraded Guess (NYSE:GES) from a previous rating to Hold, adjusting the price target from $25.00 to $24.00. Guess shares have fallen 4.35% in the last 24 hours to $22.23. The new price target suggests a potential upside of 7.96% from the current price. Guess operates in various segments, with Europe being the most revenue-generating. Analyst ratings, such as this one from Jefferies, are periodic evaluations of stocks that can influence investor decisions.
January 04, 2024 | 5:00 pm
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Jefferies downgraded Guess to Hold and lowered the price target to $24.00, which is still above the current trading price of $22.23. The stock has already reacted negatively with a 4.35% drop.
The downgrade by Jefferies is a direct negative sentiment towards Guess's stock, suggesting less confidence in its near-term performance. The reduction in the price target, although still representing an upside, may not be sufficient to counteract the negative impact of the downgrade. The immediate 4.35% drop in share price reflects the market's reaction to the downgrade, indicating a likely short-term negative impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100