Wedbush Maintains Outperform on Purple Innovation, Lowers Price Target to $3
Portfolio Pulse from richadhand@benzinga.com
Wedbush analyst Seth Basham maintains an Outperform rating on Purple Innovation (NASDAQ:PRPL) but lowers the price target from $3.5 to $3.
August 10, 2023 | 1:46 pm
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NEGATIVE IMPACT
Wedbush maintains an Outperform rating on Purple Innovation but lowers the price target from $3.5 to $3. This could potentially impact the stock's short-term performance.
The lowering of the price target by Wedbush could potentially lead to a decrease in the stock's price in the short term as it indicates a lower valuation for the company. However, the Outperform rating suggests that the analyst still sees potential in the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100