Stock Track | Despegar.com Plummets 5.39% Pre-Market on Analyst Downgrade to Sell

Stock Track

Nov 25, 2024

Despegar.com Corp. (DESP) shares plummeted 5.39% in pre-market trading on Monday, following an analyst downgrade from TD Cowen. The firm cut its rating on the Latin American online travel company from Buy to Sell and lowered the price target from $12 to $14.

According to the ratings action from Benzinga, TD Cowen appears bearish on Despegar's prospects, prompting the significant downgrade. The price target reduction also suggests the analysts expect limited upside potential in the stock over the near-term.

The pre-market sell-off in Despegar.com shares indicates investors are reacting negatively to the downgrade, which could foreshadow further selling pressure during Monday's regular trading session. However, the stock still has an average rating of "Overweight" from other analysts covering the company, with a consensus price target of $18.33 according to FactSet data.

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(DESP) shares plummeted 5.39% in pre-market trading on Monday, following an analyst downgrade from TD Cowen. The firm cut its rating on the Latin American online travel company from Buy to Sell and lowered the price target from $12 to $14.</p>\n\n<p>According to the ratings action from Benzinga, TD Cowen appears bearish on Despegar's prospects, prompting the significant downgrade. The price target reduction also suggests the analysts expect limited upside potential in the stock over the near-term.</p>\n\n<p>The pre-market sell-off in Despegar.com shares indicates investors are reacting negatively to the downgrade, which could foreshadow further selling pressure during Monday's regular trading session. However, the stock still has an average rating of \"Overweight\" from other analysts covering the company, with a consensus price target of $18.33 according to FactSet data.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DESP","symbol_name":"Despegar.com Corp.","start_time":0,"source_url":"","article_id":"1145261109","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1145261109","pubTimestamp":1732545745,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Despegar.com Corp.  shares plummeted 5.39% in pre-market trading on Monday, following an analyst downgrade from TD Cowen. 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