B of A Securities Downgrades BanColombia to Underperform, Lowers Price Target to $34
Portfolio Pulse from Benzinga Newsdesk
B of A Securities has downgraded BanColombia (NYSE:CIB) from Neutral to Underperform and reduced its price target from $38 to $34.
August 29, 2024 | 12:03 pm
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NEGATIVE IMPACT
B of A Securities has downgraded BanColombia from Neutral to Underperform, reducing the price target from $38 to $34. This suggests a negative outlook on the stock's performance.
The downgrade from Neutral to Underperform by a major financial institution like B of A Securities typically indicates a negative sentiment towards the stock. The reduction in the price target from $38 to $34 further supports this view, suggesting that the analyst expects the stock to underperform in the near term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100