Rosenblatt Downgrades RingCentral to Neutral, Lowers Price Target to $35
Portfolio Pulse from Benzinga Newsdesk
Rosenblatt analyst Catharine Trebnick has downgraded RingCentral (NYSE:RNG) from Buy to Neutral and lowered the price target from $52 to $35.
October 23, 2023 | 9:56 am
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RingCentral's stock has been downgraded from Buy to Neutral by Rosenblatt, with a lowered price target of $35.
The downgrade from Buy to Neutral by Rosenblatt indicates a less optimistic outlook for RingCentral's stock. The lowered price target from $52 to $35 also suggests that the analyst believes the stock is overvalued at its current price, which could lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100