Ecopetrol shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight and lowered its price target from $12 to $8.5.
Portfolio Pulse from Benzinga Newsdesk
Ecopetrol's stock is experiencing a decline following a downgrade by JP Morgan from Neutral to Underweight, with a reduced price target from $12 to $8.5.
September 25, 2024 | 2:11 pm
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NEGATIVE IMPACT
Ecopetrol's stock has been downgraded by JP Morgan from Neutral to Underweight, with a price target cut from $12 to $8.5, leading to a decline in share price.
The downgrade by a major financial institution like JP Morgan is likely to negatively impact investor sentiment, leading to a decrease in Ecopetrol's stock price. The significant reduction in the price target from $12 to $8.5 further emphasizes the bearish outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100