Truist Securities Downgrades Engagesmart to Hold, Lowers Price Target to $23
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst Terry Tillman has downgraded Engagesmart (NYSE:ESMT) from Buy to Hold and lowered the price target from $30 to $23.
October 27, 2023 | 1:08 pm
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NEGATIVE IMPACT
Engagesmart's rating has been downgraded from Buy to Hold by Truist Securities, with a lowered price target from $30 to $23.
The downgrade from Buy to Hold indicates a less optimistic outlook for the company's stock, which could lead to a decrease in demand and potentially a lower stock price. The lowered price target also suggests that the analyst believes the stock is currently overvalued, which could further discourage investment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100