J.P. Morgan downgrades Ethos Technologies to 'neutral'; shares slip
LIFE•J.P. Morgan cut its rating on Ethos Technologies to "neutral" from "buy," citing a more balanced risk-reward after the stock's strong run and less attractive relative valuation. Shares fell 1.5% to $33 in premarket trading.
1. Rating downgrade
J.P. Morgan lowered its rating on Ethos Technologies to "neutral" from "buy," saying the risk-reward seemed more balanced after the stock's strong run and its relative valuation had become less attractive, especially given lower cash flow conversion.
2. Analyst ratings
Eight of nine brokerages rate the stock "buy" or higher, while one rates it "hold"; their median price target is $35. Shares had gained more than 70% through the previous close since debuting in late January.
