JP Morgan Downgrades Pacific Biosciences to Neutral
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Rachel Vatnsdal downgrades Pacific Biosciences (NASDAQ:PACB) from Overweight to Neutral.
April 22, 2024 | 12:20 pm
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NEGATIVE IMPACT
Pacific Biosciences was downgraded by JP Morgan from Overweight to Neutral.
Analyst downgrades typically lead to a negative short-term impact on the stock price as market perception adjusts to the new rating. Given the downgrade is from Overweight to Neutral, it suggests a less optimistic outlook on the stock's performance, potentially leading to decreased investor confidence and a drop in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100