Stocks
Vistry Shares Plummet on Heavy Trading Volume After Analyst Downgrade
Vistry PLC shares plummeted 9% on Tuesday, with trading volume soaring to 1.654 times its average session high.
The stock dropped as low as GBX 259, which is closer to the 50-day moving average of GBX 261.80 than the two-hundred day moving average of GBX 398.57.
JPMorgan Chase reduced its target price for Vistry from GBX 430 to GBX 210 and set an underweight rating, while Jefferies Financial Group reaffirmed a hold rating with a GBX 251 price target.
The consensus rating remains Reduce, but the spread between the average price target of GBX 463.30 and the current trading level shows how divided analyst calls are.