B of A Securities Downgrades Companhia Siderurgica to Underperform, Lowers Price Target to $2.9
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Caio Ribeiro downgraded Companhia Siderurgica (NYSE:SID) from Neutral to Underperform and reduced the price target from $3.9 to $2.9.
April 09, 2024 | 4:35 pm
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Companhia Siderurgica was downgraded by B of A Securities from Neutral to Underperform, with a price target cut from $3.9 to $2.9.
The downgrade by a major analyst and the significant reduction in price target are likely to negatively impact investor sentiment and the stock price of Companhia Siderurgica in the short term. Analyst ratings and price targets are critical factors that investors consider when making investment decisions, and a downgrade coupled with a lower price target usually leads to a decrease in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100