Credit Suisse Downgrades New Relic to Neutral, Lowers Price Target to $87
Portfolio Pulse from richadhand@benzinga.com
Credit Suisse analyst Fred Lee has downgraded New Relic (NEWR) from Outperform to Neutral and lowered the price target from $113 to $87.
August 01, 2023 | 9:31 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
New Relic's rating has been downgraded by Credit Suisse from Outperform to Neutral, with a lowered price target of $87.
The downgrade from Outperform to Neutral by Credit Suisse indicates a less optimistic outlook for New Relic. The lowered price target from $113 to $87 also suggests that the analyst believes the stock may underperform in the future. This could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100