Citigroup Downgrades Solo Brands to Neutral, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Wendy Nicholson has downgraded Solo Brands (NYSE:DTC) from Buy to Neutral and reduced the price target from $10 to $4.

January 10, 2024 | 11:43 am
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Citigroup downgraded Solo Brands from Buy to Neutral and slashed the price target from $10 to $4, indicating a bearish outlook on the stock.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The substantial reduction in the price target from $10 to $4 by a major financial institution like Citigroup suggests a significant change in the company's valuation and outlook, which is likely to influence investor sentiment and the stock's market performance in the short term.
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