RBC Capital Maintains Outperform on Bumble, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Brad Erickson has maintained an 'Outperform' rating on Bumble (NASDAQ:BMBL), but lowered the price target from $23 to $16.
November 08, 2023 | 7:33 pm
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Bumble's price target has been lowered from $23 to $16 by RBC Capital, although the 'Outperform' rating is maintained.
The lowering of the price target by RBC Capital could potentially create a negative sentiment among investors, which might put downward pressure on Bumble's stock price in the short term. However, the maintained 'Outperform' rating indicates that the analyst still sees potential in the company's performance, which could balance out the negative impact.
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IMPORTANCE 80
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