Seaport Global Downgrades Washington Trust Bancorp to Neutral
Portfolio Pulse from Benzinga Newsdesk
Seaport Global analyst Laurie Havener has downgraded Washington Trust Bancorp (NASDAQ:WASH) from Buy to Neutral, indicating a change in the firm's outlook on the bank's stock.
January 31, 2024 | 2:14 pm
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Washington Trust Bancorp was downgraded by Seaport Global from Buy to Neutral, which may lead to a negative perception among investors and could impact the stock price in the short term.
Downgrades by analysts can often lead to a short-term negative reaction in the stock market as they may signal a change in the company's future prospects or current valuation. The downgrade from Buy to Neutral suggests that Seaport Global no longer sees the stock as an outperforming investment, which could lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100