Scotiabank Downgrades CVR Energy to Sector Underperform, Lowers Price Target to $25
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Paul Cheng downgraded CVR Energy (NYSE:CVI) from Sector Perform to Sector Underperform and reduced the price target from $28 to $25.

January 16, 2024 | 7:58 pm
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CVR Energy was downgraded by Scotiabank from Sector Perform to Sector Underperform, with a price target reduction from $28 to $25.
The downgrade by a major bank analyst typically leads to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further reinforces the bearish outlook, suggesting that the stock may be overvalued at its current price.
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