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Deutsche Bank downgraded its rating of Local Bounti (NYSE:LOCL) to Hold with a price target of $1.00, changing its price target from $6.00 to $1.00.
Shares of Local Bounti are trading up 1.82% over the last 24 hours, at $1.26 per share.
A move to $1.00 would account for a 20.63% decrease from the current share price.
Local Bounti Corp is a controlled environment agriculture company. Its business model is based on building local facilities, operated by local teams, to deliver fresh and quality produce to local communities while maintaining a limited carbon footprint. Using proprietary technology to grow leafy greens and herbs in smart greenhouses with a cultivation process that uses less water and land than conventional agriculture, free from herbicides or pesticides, it delivers products that have a longer shelf life, and are good in taste.
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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Posted In: LOCL
