JP Morgan Downgrades Fabrinet to Neutral, Raises Price Target to $210
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Samik Chatterjee has downgraded Fabrinet (NYSE:FN) from Overweight to Neutral, while also raising the company's price target from $185 to $210.
January 08, 2024 | 4:15 pm
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NEUTRAL IMPACT
Fabrinet was downgraded by JP Morgan from Overweight to Neutral, although the price target was raised from $185 to $210.
The downgrade to Neutral suggests that JP Morgan believes Fabrinet is fairly valued at its current price, indicating a neutral short-term price movement. However, the increase in the price target to $210 implies a positive outlook on the company's fundamentals and potential growth, which could counterbalance the downgrade's impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100