‘Too much, too soon’: A Wall Street firm is urging investors to dump Saudi Aramco’s stock as the company’s valuation spikes above $2 trillion

‘Too much, too soon’: A Wall Street firm is urging investors to dump Saudi Aramco’s stock as the company’s valuation spikes above $2 trillion

Saudi Aramco has smashed multiple records since its initial public offering earlier this week. 

That means investors should take profits now, according to analysts at Bernstein, which forecasts that the company's valuation could fall as much as 28%. 

"For investors who have benefited so far, we would take profit here," Bernstein wrote in the note. "For those who have not, we would wait until a better entry point, which will inevitably come."

Watch Aramco trade live on Markets Insider. 

Oil giant Saudi Aramco has had a blockbuster first few days of trading on the public market.

On Wednesday, shares soared 10%, and early Thursday, Aramco surged to a market value of $2 trillion, becoming the first-ever public company to hit the milestone. 

But the company's first-day jump was "too much, too soon," according to Neil Beveridge and Oswald Clint of Bernstein, and it's time to sell. The firm initiated coverage of the company on Thursday with an "underperform" rating and a target price of 25.50 riyals. 

"For investors who have benefited so far, we would take profit here," the Bernstein analysts wrote in the Thursday note. "For those who have not, we would wait until a better entry point, which will inevitably come."

Going forward, Saudi Aramco's huge