JP Morgan Maintains Neutral on Columbia Banking System, Lowers Price Target to $23
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Steven Alexopoulos has maintained a Neutral rating on Columbia Banking System (NASDAQ:COLB) but has lowered the price target from $30 to $23.
January 26, 2024 | 4:06 pm
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NEGATIVE IMPACT
JP Morgan has maintained a Neutral rating on Columbia Banking System but reduced the price target from $30 to $23, indicating a potential downside from the previous target.
The reduction in price target by a major analyst like JP Morgan suggests a bearish outlook on the stock's value, which could lead to a negative short term impact on the stock price as market participants adjust their expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100