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Why Rite Aid Stock Is Sinking Today

TheMotleyFool

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Why Rite Aid Stock Is Sinking TodayPhoto, wide shot, wide-angle lens, Home appliance manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/5d70b6df-fa9b-4237-9702-39c36cb1d4f8.png

Shares of Rite Aid (NYSE: RAD) were sinking by 16.7% as of 11:10 a.m. EDT on Thursday. The decline came after Deutsche Bank analyst George Hill initiated coverage on the retail pharmacy stock with a sell rating and a one-year price target that was 48% lower than Rite Aid's closing price on Wednesday.

Analysts' buy and sell ratings and their price targets usually aren't anything for investors to get too worked up about. However, it is important to understand the reasoning behind the analysts' perspective.

Image source: Getty Images.

Source Fool.com

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