Nova shares are trading lower after Citigroup downgraded the stock from Buy to Neutral and lowered its price target from $273 to $224.
Portfolio Pulse from Benzinga Newsdesk
Nova shares fell after Citigroup downgraded the stock from Buy to Neutral and reduced its price target from $273 to $224.
September 16, 2024 | 2:13 pm
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NEGATIVE IMPACT
Nova shares declined following Citigroup's downgrade from Buy to Neutral, with a price target cut from $273 to $224.
The downgrade by Citigroup from Buy to Neutral and the significant reduction in the price target from $273 to $224 is likely to negatively impact Nova's stock price in the short term. Such downgrades often lead to decreased investor confidence and selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100