Citi, BofA Downgrade Pershing Square
PS Pershing Square Inc
$44.48 -4.69%
View chart & analysis → - 1Citi lowered its investment rating on Pershing Square (PS) from neutral to sell while maintaining a $45 price target
- 2Citi cited a high valuation of 54 times expected earnings and lowered its 2027 EPS forecast from $1.01 to $0.89
- 3BofA also downgraded the stock from neutral to underperform and lowered its price target from $54 to $38, with the stock price at $45, down approximately 25% from its October 7 high of $60
So what's the key point?
Two Wall Street firms lowered their ratings on Pershing Square because they believe the stock is expensive. Since then, the stock price has fallen about 25% from its previous high.
Source The Motley Fool +1 · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.