Piper Sandler Maintains Underweight on Alexander's, Lowers Price Target to $145
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Alexander Goldfarb maintains an Underweight rating on Alexander's (NYSE:ALX) and lowers the price target from $160 to $145.
May 13, 2024 | 1:09 pm
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Piper Sandler's downgrade of the price target for Alexander's from $160 to $145 while maintaining an Underweight rating suggests a bearish outlook on the stock.
The reduction in price target by a reputable analyst firm like Piper Sandler can lead to negative investor sentiment towards ALX, potentially causing a short-term decrease in its stock price. The Underweight rating further emphasizes the analyst's lack of confidence in the stock's near-term performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100