Citigroup Downgrades Qorvo to Sell, Lowers Price Target to $78
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Atif Malik has downgraded Qorvo (NASDAQ:QRVO) from Neutral to Sell and lowered the price target from $116 to $78.
October 10, 2023 | 11:41 am
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NEGATIVE IMPACT
Qorvo's stock rating has been downgraded from Neutral to Sell by Citigroup, with a lowered price target from $116 to $78.
The downgrade from Citigroup is a negative signal for Qorvo. The lowered price target suggests that the analyst believes the stock is overvalued at current levels, which could lead to selling pressure and a potential decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100