Stifel Maintains Buy on PureCycle Technologies, Lowers Price Target to $6
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Michael Hoffman has maintained a Buy rating on PureCycle Technologies (NASDAQ:PCT) but has reduced the price target from $15 to $6.

November 10, 2023 | 8:33 pm
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NEGATIVE IMPACT
Stifel analyst Michael Hoffman maintains a Buy rating on PureCycle Technologies but cuts the price target from $15 to $6.
The reduction in the price target from $15 to $6 by a reputable analyst could lead to a negative short-term impact on PureCycle Technologies' stock price as it suggests a lower valuation than previously estimated. However, the maintenance of a Buy rating indicates a belief in the company's fundamentals or long-term prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100