Rosenblatt Downgrades Splunk to Neutral, Raises Price Target to $157
Portfolio Pulse from Benzinga Newsdesk
Rosenblatt analyst Blair Abernethy has downgraded Splunk (NASDAQ:SPLK) from Buy to Neutral, while raising the price target from $145 to $157.
September 22, 2023 | 11:42 am
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NEUTRAL IMPACT
Splunk has been downgraded from Buy to Neutral by Rosenblatt, but the price target has been raised from $145 to $157.
The downgrade from Buy to Neutral indicates a less optimistic outlook for the stock, which could potentially lead to a decrease in demand. However, the increase in price target from $145 to $157 suggests that the analyst still sees potential for the stock's price to increase. The net effect on the stock's price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100