B. Riley Securities Downgrades Applied Optoelectronics to Neutral, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst David Kang downgraded Applied Optoelectronics (AAOI) from Buy to Neutral and reduced the price target from $22 to $16.
February 23, 2024 | 11:14 am
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Applied Optoelectronics was downgraded by B. Riley Securities from Buy to Neutral, with a price target reduction from $22 to $16.
The downgrade from Buy to Neutral by a significant analyst like B. Riley Securities, coupled with a substantial reduction in the price target, is likely to negatively impact investor sentiment towards AAOI in the short term. This could lead to a decrease in stock price as market participants adjust their expectations based on the new analyst rating and price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100