COOK - Shares of grill maker Traeger cool off after Credit Suisse downgrades rating to neutral
- Shares of Traeger ( NYSE: COOK ) have fallen 8% to $3.01 in Tuesday trading, after Credit Suisse research downgraded the high-end grill maker to a neutral rating from outperform.
- Credit Suisse also cut its price target on COOK stock from $9 to $4, implying a 22.3% upside to COOK's last closing price of $3.27.
- Traeger ( COOK ) had a strong market debut in July 2021, closing ~23% higher than its IPO price of $18 on its first trading day.
- COOK in May reported Q1 2022 results that beat estimates on both the top and bottom line.
- Credit Suisse's neutral rating on COOK stock compares to a Wall Street average rating of buy and a SA Authors rating of hold.
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Shares of grill maker Traeger cool off after Credit Suisse downgrades rating to neutral