B of A Securities Downgrades Fox Factory Hldg to Neutral, Announces $55 Price Target
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Alexander Perry downgrades Fox Factory Hldg (NASDAQ:FOXF) from Buy to Neutral and sets a $55 price target.
February 23, 2024 | 6:28 pm
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Fox Factory Hldg was downgraded from Buy to Neutral by B of A Securities analyst Alexander Perry, with a new price target of $55.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as market participants adjust their expectations based on the new analyst outlook. The downgrade from Buy to Neutral suggests a less optimistic view on the stock's future performance, potentially leading to a decrease in investor confidence and a short-term decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100