JP Morgan Downgrades Vir Biotechnology to Neutral, Lowers Price Target to $9
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Eric Joseph has downgraded Vir Biotechnology (NASDAQ:VIR) from Overweight to Neutral and reduced the price target from $23 to $9.
January 29, 2024 | 11:06 am
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Vir Biotechnology was downgraded by JP Morgan from Overweight to Neutral, with a significant reduction in price target from $23 to $9.
The downgrade by a major financial institution like JP Morgan, accompanied by a drastic price target cut, is likely to negatively impact investor sentiment and could lead to a short-term decline in VIR's stock price.
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IMPORTANCE 90
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