Downgrades by analysts, especially with a reduction in price target, typically lead to a negative short-term impact on the stock price. The downgrade from 'Outperform' to 'Sector Perform' suggests a neutral outlook, but the reduction in price target from $23 to $20 indicates a lowered expectation of the stock's future performance, which could lead to decreased investor confidence and a potential drop in stock price in the short term.