BEST (BSTI) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of BEST (NYSE:BSTI) from a hold rating to a sell rating in a report published on Friday morning.
According to Zacks, “BEST Inc. offers logistics and supply chain management solutions. The Company’s service offerings include BEST supply chain management, BEST express, BEST freight, BEST store , BEST global, BEST cargo and BEST Ucargo serves which provide express and freight delivery, inventory management, warehousing, financing, cross-border supply chain, merchandise sourcing, and value-added services. It operates primarily in United States, Germany, Australia, Japan and Canada. BEST Inc. is based in Hangzhou, China. “
A number of other brokerages have also recently issued reports on BSTI. Credit Suisse Group began coverage on shares of BEST in a report on Monday, October 16th. They issued an outperform rating on the stock. Oppenheimer began coverage on shares of BEST in a report on Tuesday, December 5th. They issued an outperform rating and a $13.00 target price on the stock. Stifel Nicolaus began coverage on shares of BEST in a report on Monday, October 16th. They issued a buy rating and a $16.00 target price on the stock. Goldman Sachs Group began coverage on shares of BEST in a report on Sunday, October 15th. They issued a buy rating and a $16.60 target price on the stock. Finally, KeyCorp began coverage on shares of BEST in a report on Monday, October 16th. They issued an overweight rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $14.92.
An institutional investor recently bought a new position in BEST stock. Janney Montgomery Scott LLC purchased a new stake in shares of BEST Inc (NYSE:BSTI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,600 shares of the company’s stock, valued at approximately $127,000. 13.31% of the stock is currently owned by institutional investors.
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BEST Inc is engaged in providing supply chain solutions. The Company offers a cloud based platform, BEST Cloud which is integration of online and offline retail to offer delivery. It provides technology-enabled solutions to its users. The Company’s service offerings include BEST supply chain management, BEST express, BEST freight, BEST store+, BEST global, BEST cargo and BEST Ucargo.
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