Canaccord Genuity Downgrades Vicarious Surgical to Hold, Lowers Price Target to $0.4
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst Caitlin Cronin downgraded Vicarious Surgical (RBOT) from Buy to Hold and significantly reduced the price target from $9 to $0.4, indicating a bearish outlook on the company's stock.
November 14, 2023 | 11:10 am
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Vicarious Surgical was downgraded by Canaccord Genuity from Buy to Hold with a drastic price target cut from $9 to $0.4, suggesting a lack of confidence in the stock's near-term performance.
The downgrade from Buy to Hold by a reputable analyst firm like Canaccord Genuity, accompanied by a significant reduction in the price target, typically indicates a negative outlook on the company's stock performance in the short term. This could lead to a decrease in investor confidence and a potential drop in the stock price as the market adjusts to the new information.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100