Jefferies Downgrades ModivCare to Hold, Lowers Price Target to $39
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Brian Tanquilut downgraded ModivCare (NASDAQ:MODV) from Buy to Hold and reduced the price target from $60 to $39, indicating a more cautious outlook on the company's stock.
February 23, 2024 | 11:24 am
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Jefferies downgraded ModivCare from Buy to Hold and lowered the price target from $60 to $39, suggesting a bearish outlook.
The downgrade from Buy to Hold by a prominent analyst at Jefferies, coupled with a significant reduction in the price target, suggests a bearish outlook on ModivCare's stock. This could lead to a decrease in investor confidence and potentially result in a short-term decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100