Citigroup Downgrades Reata Pharmaceuticals to Neutral, Raises Price Target to $172.5
Portfolio Pulse from richadhand@benzinga.com
Citigroup analyst Yigal Nochomovitz has downgraded Reata Pharmaceuticals from Buy to Neutral, while raising the price target from $127 to $172.5.
August 01, 2023 | 12:01 pm
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NEUTRAL IMPACT
Reata Pharmaceuticals has been downgraded from Buy to Neutral by Citigroup, but the price target has been raised from $127 to $172.5.
The downgrade from Buy to Neutral suggests that Citigroup sees less upside potential in Reata Pharmaceuticals, which could lead to some investors selling their shares. However, the increase in price target from $127 to $172.5 indicates that Citigroup still sees some value in the stock, which could attract some investors. The net effect on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100