JP Morgan Downgrades First Hawaiian to Underweight, Maintains Price Target to $24
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Steven Alexopoulos has downgraded First Hawaiian (NASDAQ:FHB) from Neutral to Underweight, while maintaining the price target at $24.
July 29, 2024 | 12:02 pm
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NEGATIVE IMPACT
JP Morgan has downgraded First Hawaiian from Neutral to Underweight, while keeping the price target at $24. This downgrade could indicate a negative outlook for the stock in the short term.
The downgrade from Neutral to Underweight by a major financial institution like JP Morgan suggests a lack of confidence in First Hawaiian's near-term performance. Maintaining the price target at $24 indicates that the stock is not expected to appreciate significantly in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100