JP Morgan Downgrades Driven Brands Hldgs to Neutral, Lowers Price Target to $12.5
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Christian Carlino downgraded Driven Brands Holdings (DRVN) from Overweight to Neutral and reduced the price target from $18 to $12.5.
May 03, 2024 | 3:37 pm
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NEGATIVE IMPACT
Driven Brands Holdings was downgraded by JP Morgan from Overweight to Neutral, with a price target cut from $18 to $12.5.
The downgrade by a major financial institution like JP Morgan, accompanied by a significant reduction in the price target, is likely to negatively impact investor sentiment towards DRVN 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