Barclays Downgrades Cemex to Equal-Weight, Announces $9 Price Target
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Benjamin Theurer downgraded Cemex (NYSE:CX) from Overweight to Equal-Weight and set a $9 price target.
February 09, 2024 | 10:48 am
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Barclays downgraded Cemex from Overweight to Equal-Weight and set a $9 price target.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic outlook on the company's future performance. The downgrade from Overweight to Equal-Weight by a major financial institution like Barclays, accompanied by a specific price target, is likely to influence investors' perception and could result in a decrease in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100