B of A Securities Downgrades Rentokil Initial to Neutral, Lowers Price Target to $29
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Simona Sarli has downgraded Rentokil Initial (NYSE:RTO) from Buy to Neutral and reduced the price target from $40 to $29, indicating a more cautious outlook on the company's stock.
January 24, 2024 | 1:07 pm
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NEGATIVE IMPACT
Rentokil Initial's stock rating has been downgraded by B of A Securities from Buy to Neutral, with a significant reduction in price target from $40 to $29.
Downgrades by analysts, especially from a Buy to a Neutral rating, typically suggest a reduced growth or performance outlook for the company, which can lead to a negative investor sentiment and a potential decrease in the stock price in the short term. The substantial decrease in the price target further emphasizes the analyst's reduced confidence in the stock's future performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100