RBC Capital Downgrades New Relic to Sector Perform, Lowers Price Target to $87
Portfolio Pulse from richadhand@benzinga.com
RBC Capital analyst Rishi Jaluria has downgraded New Relic (NEWR) from Outperform to Sector Perform and lowered the price target from $95 to $87.
August 01, 2023 | 1:09 pm
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NEGATIVE IMPACT
New Relic's rating has been downgraded by RBC Capital, with a lowered price target. This could potentially impact the stock's performance.
The downgrade from Outperform to Sector Perform by RBC Capital indicates a less optimistic outlook for New Relic. The lowering of the price target from $95 to $87 also suggests that the analyst believes the stock may not perform as well as previously expected. This could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100