Stock Track | Veris Residential Plunges 5.19% on Analyst Downgrade

Stock Track
26 Feb

Shares of Veris Residential (VRE) plummeted 5.19% in intraday trading on Wednesday, following a downgrade by analysts at Evercore ISI Group.

Evercore ISI cut its rating on Veris Residential from "Outperform" to "In-Line" and lowered its price target for the stock from $20 to $18. The downgrade was reportedly driven by the company's disappointing fourth-quarter results, though specific details were not provided.

The downgrade and lower price target from the influential Wall Street firm weighed heavily on investor sentiment, leading to the selloff in Veris Residential shares on Wednesday. The stock closed the session at $16.85, significantly underperforming the broader market.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10