PLBY Group shares are trading lower after the company reported worse-than-expected Q2 financial results. Also, Jefferies downgraded the stock from Buy to Hold and lowered its price target from $1.5 to $0.7.
Portfolio Pulse from Benzinga Newsdesk
PLBY Group shares are trading lower following disappointing Q2 financial results and a downgrade from Jefferies, which lowered its rating from Buy to Hold and reduced the price target from $1.5 to $0.7.
August 09, 2024 | 5:26 pm
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PLBY Group shares are trading lower after the company reported worse-than-expected Q2 financial results. Additionally, Jefferies downgraded the stock from Buy to Hold and lowered its price target from $1.5 to $0.7.
The combination of disappointing Q2 financial results and a downgrade from a major analyst firm like Jefferies is likely to negatively impact PLBY Group's stock price in the short term. The lowered price target further underscores the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100