JP Morgan Downgrades Cemex to Neutral, Lowers Price Target to $6
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Adrian Huerta has downgraded Cemex (NYSE:CX) from Overweight to Neutral and reduced the price target from $7 to $6.
October 29, 2024 | 11:09 am
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JP Morgan has downgraded Cemex from Overweight to Neutral and reduced its price target from $7 to $6, indicating a less optimistic outlook.
The downgrade from Overweight to Neutral by a major financial institution like JP Morgan suggests a less favorable view on Cemex's future performance. The reduction in the price target from $7 to $6 further indicates a potential downside in the stock's valuation, likely leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100