HC Wainwright & Co. Maintains Buy on Arcadia Biosciences, Lowers Price Target to $10
Portfolio Pulse from richadhand@benzinga.com
HC Wainwright & Co. analyst Raghuram Selvaraju maintains a 'Buy' rating on Arcadia Biosciences (NASDAQ:RKDA) but lowers the price target from $15 to $10.
August 28, 2023 | 10:26 am
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NEUTRAL IMPACT
Despite the lowered price target, HC Wainwright & Co. maintains a 'Buy' rating on Arcadia Biosciences, indicating continued confidence in the company's potential.
The lowered price target might initially cause some negative sentiment among investors, potentially leading to a short-term drop in the 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 75
RELEVANCE 100