Petco Health and Wellness shares are trading lower after B of A Securities downgraded the stock from Buy to Underperform and lowered its price target from $5 to $1.50.
Portfolio Pulse from Benzinga Newsdesk
Petco Health and Wellness shares dropped following a downgrade by B of A Securities from Buy to Underperform, with a price target reduction from $5 to $1.50.
April 02, 2024 | 11:45 am
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Petco Health and Wellness shares declined after B of A Securities downgraded the stock to Underperform and reduced its price target from $5 to $1.50.
The downgrade by a major financial institution like B of A Securities, accompanied by a significant reduction in the price target, is likely to negatively impact investor sentiment towards Petco Health and Wellness. This could lead to a decrease in stock price in the short term as market participants adjust their expectations based on the new analyst rating and price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100