B. Riley Securities Downgrades XPEL to Neutral, Lowers Price Target to $37
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst Jeff Van Sinderen downgraded XPEL (NASDAQ:XPEL) from Buy to Neutral and reduced the price target from $74 to $37, indicating a more cautious outlook on the stock.
May 03, 2024 | 9:40 am
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NEGATIVE IMPACT
XPEL downgraded from Buy to Neutral by B. Riley Securities, with a significant price target cut from $74 to $37.
The downgrade from Buy to Neutral by a significant analyst, coupled with a drastic reduction in the price target, suggests a bearish outlook on XPEL's stock in the short term. This could lead to decreased investor confidence and a potential drop in stock price as the market adjusts to the new valuation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100