Jefferies Downgrades Chegg to Underperform, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Brent Thill downgraded Chegg (NYSE:CHGG) from Hold to Underperform and reduced the price target from $7 to $4, indicating a bearish outlook on the company's stock.
April 30, 2024 | 12:24 pm
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Jefferies downgraded Chegg from Hold to Underperform and lowered the price target from $7 to $4, suggesting a negative short-term outlook for the stock.
The downgrade by Jefferies, a significant financial analysis firm, directly impacts investor sentiment and could lead to a decrease in stock price in the short term. The reduction in price target further emphasizes the analyst's bearish outlook, potentially influencing market perception and investor confidence in Chegg.
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