LoanDepot shares are trading lower after Goldman Sachs downgraded the stock from Neutral to Sell and raised its price target from $1.75 to $3.
Portfolio Pulse from Benzinga Newsdesk
LoanDepot's stock (LDI) is trading lower following a downgrade by Goldman Sachs from Neutral to Sell, despite an increase in the price target from $1.75 to $3.
January 09, 2024 | 5:28 pm
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NEGATIVE IMPACT
LoanDepot's stock price is likely to experience downward pressure in the short term due to the downgrade from Goldman Sachs to Sell, even with a raised price target.
Analyst downgrades typically lead to a negative perception among investors, which can result in a short-term decline in stock price. Although the price target was raised, the change from Neutral to Sell suggests a bearish outlook that may weigh more heavily on investor sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100