Citigroup Maintains Neutral Rating for Velocity Financial: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Citigroup has maintained its Neutral rating for Velocity Financial (NYSE:VEL) but lowered its price target from $14.00 to $13.00. Velocity Financial's shares are currently trading at $11.34, and a move to $13.00 would represent a 14.64% increase.
October 06, 2023 | 5:00 pm
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NEUTRAL IMPACT
Citigroup has maintained its Neutral rating for Velocity Financial but lowered its price target. This could potentially impact the stock's performance.
The decision by Citigroup to maintain its Neutral rating indicates that they do not expect significant changes in Velocity Financial's stock performance. However, the lowering of the price target could potentially create a negative sentiment among investors, which might impact the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100