Uniti Group (UNIT) Plunges 5.68% on Fourth Day of Decline

Uniti Group (UNIT) shares plummeted 5.68% today, marking the fourth consecutive day of decline, with a total drop of 20.80% over the past four days. The stock price hit its lowest level since August 2024, experiencing an intraday decline of 7.05%.

Raymond James recently upgraded Uniti Group from an "outperform" rating to a "strong-buy" rating, while also raising their price target from $6.00 to $8.00. This positive analyst action could potentially contribute to upward momentum in the stock price. However, the recent stock performance, which saw a nearly six percent drop, suggests negative investor sentiment or a reaction to broader market conditions. These factors are likely influencing the fluctuations in Uniti Group's stock price.