DA Davidson Downgrades Columbia Banking System to Neutral, Lowers Price Target to $25
Portfolio Pulse from Benzinga Newsdesk
DA Davidson analyst Jeff Rulis downgraded Columbia Banking System (NASDAQ:COLB) from Buy to Neutral and reduced the price target from $32 to $25.

January 25, 2024 | 2:31 pm
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NEGATIVE IMPACT
Columbia Banking System was downgraded by DA Davidson from Buy to Neutral with a lowered price target from $32 to $25.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further suggests a lower expected valuation for the company, which can also negatively impact investor sentiment and the stock's performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100