Analyst downgrades typically lead to a short-term negative reaction in the stock market as they suggest a less optimistic outlook on the company's future performance. However, the setting of a price target at $200, which may or may not be above the current trading price, suggests that the downgrade is not based on a fundamental deterioration in the company's outlook. Therefore, the impact is neutral, indicating that while the downgrade may temper some investor enthusiasm, the price target suggests there is still potential for growth.