Piper Sandler Downgrades Independent Bank Gr to Underweight, Lowers Price Target to $38
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Brad Milsaps downgraded Independent Bank Gr (IBTX) from Neutral to Underweight and reduced the price target from $48 to $38.
April 24, 2024 | 9:33 am
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NEGATIVE IMPACT
Independent Bank Gr was downgraded by Piper Sandler from Neutral to Underweight with a price target reduction from $48 to $38.
The downgrade by a prominent analyst like Brad Milsaps from Piper Sandler, coupled with a significant reduction in price target, is likely to negatively impact investor sentiment towards Independent Bank Gr in the short term. This could lead to a decrease in stock price as market participants adjust their expectations based on the new analyst rating and price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100