World Kinect shares are trading lower after the company reported worse-than-expected Q3 sales results. Also, Stifel downgraded the stock from Buy to Hold and lowered its price target from $33 to $32.
Portfolio Pulse from Benzinga Newsdesk
World Kinect shares fell after reporting disappointing Q3 sales and receiving a downgrade from Stifel, which also lowered its price target.
October 25, 2024 | 2:53 pm
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World Kinect's stock is under pressure due to worse-than-expected Q3 sales results. Stifel downgraded the stock from Buy to Hold and reduced the price target from $33 to $32.
The company's Q3 sales results were below expectations, which is a negative indicator for investors. Additionally, the downgrade from Stifel and the reduced price target suggest a lack of confidence in the stock's short-term performance, likely leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100