Merchants Bancorp shares are trading lower after the company reported worse-than-expected financial results. Raymond James cut its price target on the stock from $58 to $55.
Portfolio Pulse from Benzinga Newsdesk
Merchants Bancorp shares are experiencing a decline following Raymond James' decision to lower its price target from $58 to $55.
October 29, 2024 | 1:47 pm
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NEGATIVE IMPACT
Merchants Bancorp's stock is trading lower due to Raymond James reducing its price target from $58 to $55.
The reduction in price target by a reputable financial services firm like Raymond James can negatively impact investor sentiment, leading to a decline in the stock price. This is a direct and significant event for Merchants Bancorp, hence the high relevance and importance scores.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100