Why PJT Partners Stock Withered on Wednesday
One analyst downgraded the stock to the equivalent of hold.
Overview
A pair of downbeat analyst moves was the main factor behind the decline in PJT Partners’ (NYSE:PJT) stock on Hump Day. Market players took these moves to heart, selling out of the boutique investment bank's equity to leave it with a nearly 1.5% fall that trading session.
Early Wednesday morning, Alex Bond of Keefe, Bruyette & Woods changed his rating on PJT to market perform (i.e., hold) from outperform (buy), resetting his price target on the financial stock to $159 per share from $195.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.