Barclays Downgrades Array Technologies to Equal-Weight, Lowers Price Target to $15
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Christine Cho downgraded Array Technologies (ARRY) from Overweight to Equal-Weight and reduced the price target from $22 to $15.
January 22, 2024 | 10:45 am
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Barclays analyst downgraded Array Technologies from Overweight to Equal-Weight and lowered the price target from $22 to $15, potentially impacting investor sentiment and the stock's market value.
Analyst downgrades typically lead to a negative perception among investors, as they suggest a less favorable outlook for the company's stock. The reduction in price target further implies that the stock may not perform as well as previously expected, which can lead to a decrease in its market value in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100