Sea shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target from $84 to $78.
Portfolio Pulse from Benzinga Newsdesk
Sea shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target from $84 to $78.
June 25, 2024 | 11:26 am
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NEGATIVE IMPACT
JP Morgan downgraded Sea from Overweight to Neutral and reduced its price target from $84 to $78, causing the stock to trade lower.
The downgrade from a major financial institution like JP Morgan typically leads to a negative market reaction. The reduction in the price target further reinforces the bearish sentiment, causing the stock to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100