Deutsche Bank Downgrades Local Bounti: Here's What You Need To Know

Deutsche Bank downgraded its rating of Local Bounti 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.

About Local Bounti

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.

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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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This article was generated by Benzinga's automated content engine and reviewed by an editor.