TriNet Group Inc. (TNET) saw its stock plummet 5.13% in Tuesday's pre-market trading session, following a downgrade and price target cut from TD Cowen.
TD Cowen analysts downgraded TriNet Group from "Buy" to "Hold" and lowered their price target for the company's stock from $104 to $74. This downgrade and price target revision came after analysts polled by FactSet gave TriNet Group an average rating of "Hold" and a mean price target of $82.75.
The analysts' actions suggest concerns about TriNet Group's future performance and growth prospects, leading to a sell-off in the company's shares during the pre-market session.
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