Weibo shares are trading lower after Benchmark downgraded the stock from Buy to Hold. Additionally, Citigroup lowered its price target from $20 to $18 on the stock.
Portfolio Pulse from Benzinga Newsdesk
Weibo's stock has been downgraded from Buy to Hold by Benchmark, and Citigroup has lowered its price target from $20 to $18.
August 25, 2023 | 2:27 pm
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Weibo's stock has been downgraded by Benchmark and its price target has been lowered by Citigroup, which could negatively impact its stock price.
The downgrade from Buy to Hold by Benchmark indicates a less optimistic outlook for Weibo's stock. Additionally, Citigroup's lowering of its price target suggests they expect the stock to underperform. Both these factors could lead to a decrease in Weibo's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100