Truist cuts Technology to neutral short-term following sector’s hefty gain
2024-06-21
Khanchit Khirisutchalual/iStock via Getty Images Truist downgraded its rating on the Technology sector (SP500-45TR0)(XLK) to neutral from overweight on Friday following a sharp run-up by the group against the S&P 500 (SP500)(SPY). Keith Lerner, chief market strategist at Truist, said Technology has gained about 40% since it overweighted the sectorContinue Reading