JP Morgan Downgrades Cementos Pacasmayo to Underweight, Announces $6 Price Target
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Adrian Huerta has downgraded Cementos Pacasmayo (NYSE:CPAC) from Neutral to Underweight, setting a price target of $6.
August 21, 2024 | 12:12 pm
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JP Morgan has downgraded Cementos Pacasmayo to Underweight and set a price target of $6, indicating a bearish outlook.
The downgrade from Neutral to Underweight by a major financial institution like JP Morgan suggests a negative outlook on CPAC's stock. The $6 price target indicates a potential downside from current levels, likely leading to a decrease in investor confidence and a short-term drop in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100