Deutsche Bank Downgrades ModivCare to Hold, Lowers Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Pito Chickering downgraded ModivCare (NASDAQ:MODV) from Buy to Hold and reduced the price target from $60 to $40.
February 23, 2024 | 11:06 am
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ModivCare's stock rating was downgraded by Deutsche Bank from Buy to Hold, with a significant reduction in the price target from $60 to $40.
The downgrade from Buy to Hold by a major financial institution like Deutsche Bank, accompanied by a substantial decrease in the price target, is likely to negatively impact investor sentiment towards ModivCare in the short term. This could lead to a decrease in stock price as the market adjusts to the new valuation and outlook provided by the analyst.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100