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 29, 2024 | 3:31 pm
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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 by Barclays, indicating potential underperformance relative to the market or sector. However, the increase in price target to $19 from $17 implies a positive adjustment to the expected value of the stock, which could mitigate some negative sentiment. The net effect is likely negative in the short term due to the weight of the downgrade.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100