JP Morgan Downgrades HDFC Bank to Neutral
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Saurabh Kumar has downgraded HDFC Bank (NYSE:HDB) from Overweight to Neutral.
July 22, 2024 | 10:47 am
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NEGATIVE IMPACT
JP Morgan analyst Saurabh Kumar has downgraded HDFC Bank from Overweight to Neutral, which may lead to a short-term negative impact on the stock price.
A downgrade from a major financial institution like JP Morgan typically signals a lack of confidence in the stock's near-term performance, which can lead to selling pressure and a decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100