Raymond James Downgrades Merchants Bancorp to Outperform, Raises Price Target to $58
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Daniel Tamayo has downgraded Merchants Bancorp (NASDAQ:MBIN) from Strong Buy to Outperform while raising the price target from $55 to $58.
July 30, 2024 | 9:20 am
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Raymond James has downgraded Merchants Bancorp from Strong Buy to Outperform, but raised the price target from $55 to $58. This mixed signal may cause short-term volatility in MBIN's stock price.
The downgrade from Strong Buy to Outperform suggests a less bullish outlook, which could negatively impact investor sentiment. However, the raised price target to $58 indicates some positive expectations, balancing the overall impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100