BMO Capital Downgrades Splunk to Market Perform, Raises Price Target to $157
Portfolio Pulse from Benzinga Newsdesk
BMO Capital analyst Keith Bachman has downgraded Splunk (NASDAQ:SPLK) from Outperform to Market Perform, while raising the price target from $127 to $157.
September 22, 2023 | 1:15 pm
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NEUTRAL IMPACT
Splunk's rating has been downgraded to Market Perform by BMO Capital, but the price target has been raised to $157.
The downgrade to Market Perform suggests that BMO Capital expects Splunk's stock to perform in line with the market, rather than outperform it. However, the raised price target indicates an expectation of potential upside, which could attract investors. The net impact on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100