Shares of Power Integrations (POWI) plunged 5.25% in Thursday's intraday trading session, as several prominent financial institutions significantly reduced their price targets for the company. The series of downgrades has sparked concerns among investors about the company's near-term prospects.
Deutsche Bank led the bearish sentiment by cutting its target price for Power Integrations to $45 from $55, marking a substantial 18% reduction. Following suit, Benchmark and Susquehanna both lowered their price targets to $50 from $55, while Stifel made the most drastic cut, reducing its target from $70 to $56.
These widespread target price reductions from multiple analysts suggest a shift in market sentiment towards Power Integrations. Investors appear to be reassessing the company's valuation and growth potential in light of these expert opinions. As the trading session progresses, it remains to be seen how the stock will perform and whether it can recover from this significant early drop.
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