Leggett & Platt shares are trading lower after Piper Sandler maintained an Underweight rating on the stock and lowered its price target from $18 to $16.
Portfolio Pulse from Benzinga Newsdesk
Leggett & Platt's stock trades lower as Piper Sandler maintains an Underweight rating and reduces the price target from $18 to $16.
March 12, 2024 | 4:07 pm
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NEGATIVE IMPACT
Piper Sandler maintained an Underweight rating on Leggett & Platt and lowered its price target from $18 to $16, leading to a decrease in stock price.
The reduction in price target by a reputable analyst firm like Piper Sandler can lead to a negative investor sentiment towards Leggett & Platt, causing a short-term decrease in its stock price. The Underweight rating further emphasizes the firm's lack of confidence in the stock's near-term performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100