Stephens & Co. Maintains Overweight on Magnite, Lowers Price Target to $14
Portfolio Pulse from richadhand@benzinga.com
Stephens & Co. analyst Nicholas Zangler maintains an Overweight rating on Magnite (NASDAQ:MGNI) but has lowered the price target from $17 to $14.
August 10, 2023 | 3:09 pm
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NEGATIVE IMPACT
Magnite's price target has been lowered from $17 to $14 by Stephens & Co., though the Overweight rating is maintained.
The lowering of the price target by Stephens & Co. could potentially lead to a negative sentiment among investors, which may put downward pressure on the stock price in the short term. However, the maintained Overweight rating indicates that the analyst still sees potential upside in the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100