Goldman Sachs Downgrades Chegg to Sell, Lowers Price Target to $8
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Eric Sheridan has downgraded Chegg (NYSE:CHGG) from Neutral to Sell and reduced the price target from $10 to $8.
January 19, 2024 | 9:52 am
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NEGATIVE IMPACT
Chegg's stock rating has been downgraded by Goldman Sachs from Neutral to Sell, with a lowered price target from $10 to $8, indicating a bearish outlook.
The downgrade by a prominent analyst at Goldman Sachs suggests a negative outlook on Chegg's stock performance. The reduction in price target further implies that the stock may underperform, leading to a potential decrease in its market price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100