Stock Track | Calumet Specialty Products Plummets 8.84% as TD Cowen Downgrades Stock to 'Hold'

Stock Track

03-04

Calumet Specialty Products Partners LP (CLMT) stock plummeted 8.84% in the pre-market trading session on Tuesday. The steep decline followed a downgrade by analysts at TD Cowen, a respected Wall Street research firm.

TD Cowen lowered its rating on CLMT from 'Buy' to 'Hold' and cut the price target from $26 to $22.80. This negative analyst action appears to be the primary driver behind CLMT's significant pre-market sell-off.

While other analysts currently maintain an average 'Overweight' rating on CLMT shares, with a mean price target of $22.80, TD Cowen's downgrade has weighed heavily on investor sentiment, leading to the stock's plummet in pre-market trading.

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The steep decline followed a downgrade by analysts at TD Cowen, a respected Wall Street research firm.</p>\n\n<p>TD Cowen lowered its rating on CLMT from 'Buy' to 'Hold' and cut the price target from $26 to $22.80. 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