Deutsche Bank Downgrades New Fortress Energy to Hold, Lowers Price Target to $35
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Chris Robertson downgraded New Fortress Energy (NFE) from Buy to Hold and reduced the price target from $40 to $35.
March 04, 2024 | 1:29 pm
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NEGATIVE IMPACT
Deutsche Bank downgraded New Fortress Energy from Buy to Hold and lowered the price target from $40 to $35.
The downgrade from Buy to Hold by a major bank like Deutsche Bank suggests a less optimistic outlook on NFE's stock performance in the near term. Additionally, lowering the price target from $40 to $35 indicates a revision of the expected stock value, which could lead to a negative perception among investors and potentially decrease the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100