Telsey Advisory Group Downgrades Hibbett to Market Perform, Lowers Price Target to $74
Portfolio Pulse from Benzinga Newsdesk
Telsey Advisory Group analyst Joseph Feldman downgraded Hibbett Sports, Inc. (HIBB) from Outperform to Market Perform and reduced the price target from $82 to $74. This adjustment reflects a more cautious outlook on the company's stock.
March 18, 2024 | 9:29 am
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Hibbett Sports, Inc. (HIBB) was downgraded by Telsey Advisory Group from Outperform to Market Perform, with a price target reduction from $82 to $74.
Analyst downgrades typically lead to a negative short-term impact on the stock price as they reflect a more cautious or bearish outlook on the company's future performance and valuation. The reduction in the price target further emphasizes the analyst's reduced expectations for the stock, likely leading to decreased investor confidence and downward pressure on the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100