Truist Securities Downgrades Treace Medical Concepts to Hold, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst Richard Newitter downgraded Treace Medical Concepts (TMCI) from Buy to Hold and reduced the price target from $17 to $7, indicating a more cautious outlook on the company's stock.
May 08, 2024 | 12:47 pm
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Truist Securities downgraded Treace Medical Concepts from Buy to Hold and significantly lowered the price target from $17 to $7.
The downgrade from Buy to Hold by a significant analyst like Truist Securities, coupled with a drastic reduction in the price target, suggests a bearish outlook on TMCI's stock. This could lead to a decrease in investor confidence and a potential short-term decline in the stock price.
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