Goldman Sachs Downgrades United Microelectronics to Neutral, Announces $7.4 Price Target
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs has downgraded United Microelectronics (NYSE:UMC) from Buy to Neutral, setting a price target of $7.4.
October 17, 2024 | 6:49 pm
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Goldman Sachs analyst Bruce Lu has downgraded United Microelectronics from Buy to Neutral, with a new price target of $7.4.
The downgrade from Buy to Neutral by a major financial institution like Goldman Sachs is likely to negatively impact UMC's stock price in the short term. The new price target of $7.4 suggests a limited upside, which may lead investors to reassess their positions.
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