Karat Packaging shares are trading lower after the company reported worse-than-expected Q2 financial results. Additionally, Truist Securities downgraded the stock from a Buy to a Hold and lowered its price target on the stock from $34 to $28.
Portfolio Pulse from Benzinga Newsdesk
Karat Packaging shares are trading lower after the company reported worse-than-expected Q2 financial results. Truist Securities downgraded the stock from a Buy to a Hold and lowered its price target from $34 to $28.
August 09, 2024 | 4:56 pm
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Karat Packaging shares are trading lower due to worse-than-expected Q2 financial results. Truist Securities downgraded the stock from a Buy to a Hold and reduced its price target from $34 to $28.
The combination of disappointing Q2 financial results and a downgrade from Truist Securities, including a lowered price target, is likely to negatively impact Karat Packaging's stock price in the short term.
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