HC Wainwright & Co. Maintains Buy on Electra Battery Materials, Lowers Price Target to $2.5
Portfolio Pulse from richadhand@benzinga.com
HC Wainwright & Co. analyst Heiko Ihle maintains a 'Buy' rating on Electra Battery Materials (NASDAQ:ELBM), but has lowered the price target from $4.5 to $2.5.
August 21, 2023 | 10:29 am
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Despite the lowered price target, HC Wainwright & Co. maintains a 'Buy' rating on Electra Battery Materials, indicating continued confidence in the company's potential.
The lowered price target could initially cause some negative sentiment among investors, potentially leading to a short-term drop in ELBM's stock price. However, the maintained 'Buy' rating indicates that the analyst still sees potential in the company, which could balance out the initial negative impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100