JP Morgan Downgrades Installed Building Prods to Neutral, Raises Price Target to $242
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Michael Rehaut downgraded Installed Building Products (IBP) from Overweight to Neutral but raised the price target from $199 to $242.

February 28, 2024 | 11:01 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Installed Building Products was downgraded by JP Morgan from Overweight to Neutral, although the price target was increased from $199 to $242.
The downgrade to Neutral suggests a more cautious outlook on IBP's stock by JP Morgan, potentially due to valuation or other concerns. However, the increase in the price target to $242 indicates a belief in the company's underlying value and growth prospects. This mixed signal could lead to short-term uncertainty among investors, balancing the potential for both positive and negative reactions in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100