Stock Track | UniFirst Plummets 5.40% in Pre-Market After Barclays Downgrades to Underweight-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Stock Track | UniFirst Plummets 5.40% in Pre-Market After Barclays Downgrades to Underweight

Stock Track04-04

UniFirst Corporation (UNF) shares plunged 5.40% in pre-market trading on Friday following a significant downgrade from Barclays. The investment bank cut its rating on the uniform rental company from Equal-Weight to Underweight, signaling a more pessimistic outlook on the stock's future performance.

In addition to the downgrade, Barclays also reduced its price target for UniFirst from $180 to $152, representing a substantial 15.6% decrease. This adjustment suggests that the bank sees limited upside potential for the stock in the near term, which has likely contributed to the sharp sell-off in pre-market trading.

Despite the negative sentiment from Barclays, it's worth noting that the overall consensus among analysts remains cautious. According to FactSet, UniFirst currently has an average rating of "hold" with a mean price target of $181.67. Investors will be closely watching for any further analyst actions or company updates that could impact the stock's trajectory in the coming days.

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