Citigroup Downgrades Everest Group to Neutral, Lowers Price Target to $375
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Michael Ward downgraded Everest Group (NYSE:EG) from Buy to Neutral and reduced the price target from $452 to $375, indicating a more cautious outlook on the company's stock.
February 12, 2024 | 12:13 pm
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Everest Group was downgraded by Citigroup from Buy to Neutral, with a price target reduction from $452 to $375, suggesting a tempered expectation for the stock's performance.
The downgrade by a major financial institution like Citigroup, especially with a significant reduction in the price target, typically signals a bearish outlook on the stock. This could lead to short-term negative sentiment among investors, potentially impacting the stock's price negatively.
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