Barclays Maintains Overweight on RingCentral, Lowers Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Ryan Macwilliams maintains an Overweight rating on RingCentral (NYSE:RNG) but lowers the price target from $55 to $45.

August 09, 2023 | 4:15 pm
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Barclays maintains an Overweight rating on RingCentral but lowers the price target from $55 to $45.
While the Overweight rating indicates that Barclays still sees RingCentral as a good investment, the lowering of the price target could potentially indicate a slower growth rate than previously expected. This could have a neutral impact on the stock price in the short term as the positive and negative news balance each other out.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100