Birkenstock shares are trading lower after Goldman Sachs downgraded the stock from Buy to Neutral but raised its price target from $54.20 to $58.
Portfolio Pulse from Benzinga Newsdesk
Birkenstock shares are trading lower after Goldman Sachs downgraded the stock from Buy to Neutral but raised its price target from $54.20 to $58.
June 12, 2024 | 12:08 pm
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NEGATIVE IMPACT
Goldman Sachs downgraded Birkenstock from Buy to Neutral, causing shares to trade lower. However, the price target was raised from $54.20 to $58.
The downgrade from Buy to Neutral by a major financial institution like Goldman Sachs typically leads to a negative short-term impact on the stock price. The raised price target may mitigate some of the negative sentiment, but the overall downgrade is likely to weigh more heavily on investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100