JP Morgan Downgrades Vestis to Neutral, Lowers Price Target to $11
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Andrew Steinerman downgrades Vestis (NYSE:VSTS) from Overweight to Neutral and lowers the price target from $22 to $11.
May 03, 2024 | 3:30 pm
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JP Morgan downgraded Vestis from Overweight to Neutral and cut the price target from $22 to $11.
The downgrade by a major analyst like JP Morgan from Overweight to Neutral, coupled with a significant reduction in price target, is likely to negatively impact investor sentiment and Vestis's stock price in the short term. Such a move reflects a less optimistic outlook on the company's future performance, potentially leading to a decrease in stock price as investors adjust their expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100