Citigroup Downgrades Rocket Companies to Sell, Raises Price Target to $10
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Ashwin Shirvaikar has downgraded Rocket Companies (NYSE:RKT) from Neutral to Sell, while also raising the price target from $9 to $10.
January 16, 2024 | 5:50 pm
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Citigroup downgraded Rocket Companies to Sell, despite raising the price target from $9 to $10, indicating mixed sentiment.
The downgrade to Sell suggests that Citigroup believes Rocket Companies' stock will perform poorly in the short term. However, the increase in the price target could imply that the stock's current price is undervalued or that there are some positive aspects that could provide a floor to the stock price. The mixed sentiment may lead to increased volatility or a negative bias in the stock's short-term performance.
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