FIGS shares are trading lower after B of A Securities downgraded the stock from Neutral to Underperform and lowered its price target from $8.50 to $4.50.
Portfolio Pulse from Benzinga Newsdesk
FIGS shares are trading lower following a downgrade by B of A Securities from Neutral to Underperform, with a price target reduction from $8.50 to $4.50.
April 02, 2024 | 12:45 pm
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FIGS shares are trading lower after a downgrade by B of A Securities from Neutral to Underperform, accompanied by a significant price target cut from $8.50 to $4.50.
The downgrade by a major financial institution like B of A Securities from Neutral to Underperform signals a negative outlook on FIGS' future performance. The substantial reduction in the price target further emphasizes the bearish stance, likely leading to decreased investor confidence and a short-term decline in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100