Deckers Outdoor shares are trading lower after B of A Securities downgraded the stock from Buy to Neutral and lowered its price target from $875 to $860.
Portfolio Pulse from Benzinga Newsdesk
Deckers Outdoor's stock trades lower following a downgrade by B of A Securities from Buy to Neutral, with a reduced price target from $875 to $860.
April 25, 2024 | 2:00 pm
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NEGATIVE IMPACT
Deckers Outdoor's stock price is expected to face short-term pressure following the downgrade by B of A Securities from Buy to Neutral and a decrease in the price target.
Analyst ratings, especially downgrades, can significantly impact a stock's short-term price movements. The reduction in Deckers Outdoor's price target by a major financial institution like B of A Securities suggests a reassessment of the company's future growth prospects or market position, which could lead to decreased investor confidence and selling pressure.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100