Wolfe Research Downgrades Forward Air to Underperform, Announces $50 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wolfe Research analyst Scott Group has downgraded Forward Air (NASDAQ:FWRD) from Peer Perform to Underperform and set a price target of $50. This suggests a bearish outlook on the company's stock performance.
January 10, 2024 | 1:15 pm
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Forward Air has been downgraded by Wolfe Research from Peer Perform to Underperform with a new price target of $50, indicating a negative sentiment towards the stock's future performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest lower future performance expectations. The new price target of $50 set by Wolfe Research is likely to influence investor sentiment and could result in a decrease in Forward Air's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100