Hexcel shares are trading lower after B of A Securities downgraded the stock from Neutral to Underperform and lowered its price target from $75 to $65.
Portfolio Pulse from Benzinga Newsdesk
Hexcel shares dropped following a downgrade by B of A Securities from Neutral to Underperform, with a price target reduction from $75 to $65.
April 10, 2024 | 11:06 am
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NEGATIVE IMPACT
Hexcel's stock price declined after B of A Securities downgraded the stock from Neutral to Underperform and reduced the price target from $75 to $65.
The downgrade by a major financial institution like B of A Securities directly impacts investor sentiment towards Hexcel, likely leading to a decrease in stock price in the short term. The reduction in the price target further exacerbates negative sentiment, indicating a lower valuation of the company than previously estimated.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100