Piper Sandler Downgrades Evans Bancorp to Neutral, Announces $32 Price Target
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Alexander Twerdahl downgraded Evans Bancorp (EVBN) from Overweight to Neutral and set a price target of $32.
February 02, 2024 | 3:55 pm
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NEGATIVE IMPACT
Evans Bancorp was downgraded from Overweight to Neutral by Piper Sandler, with a new price target of $32.
The downgrade from Overweight to Neutral by a prominent analyst like Alexander Twerdahl suggests a less optimistic outlook on EVBN's stock performance in the short term. The setting of a price target provides a specific expectation for the stock's future price level, but the downgrade itself may lead to negative sentiment among investors, potentially causing a decrease in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100