Barclays Downgrades Vestis to Underweight, Raises Price Target to $19
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Manav Patnaik downgraded Vestis (NYSE:VSTS) from Equal-Weight to Underweight but raised the price target from $17 to $19.

February 28, 2024 | 11:06 am
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NEGATIVE IMPACT
Barclays downgraded Vestis to Underweight from Equal-Weight, but increased the price target to $19 from $17.
The downgrade to Underweight suggests a bearish outlook on Vestis' stock by Barclays, indicating a potential decrease in stock price. However, the increase in price target to $19 from $17 provides a slightly positive aspect, suggesting that while the stock might be overvalued at its current price, there's still potential for some growth. The mixed signals could lead to short-term volatility in Vestis' stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100