Benchmark Maintains Buy on Global E Online, Lowers Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
Benchmark analyst Mark Zgutowicz has maintained a Buy rating on Global E Online (NASDAQ:GLBE) but has reduced the price target from $50 to $40.
November 16, 2023 | 5:08 pm
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NEGATIVE IMPACT
Benchmark analyst Mark Zgutowicz reaffirms a Buy rating on Global E Online but lowers the price target to $40, indicating a potential downside compared to the previous target of $50.
The reduction in the price target from $50 to $40 by a reputable analyst could lead to a negative perception among investors, potentially causing a short-term decline in the stock price. However, the maintenance of a Buy rating suggests underlying confidence in the company's fundamentals, which may mitigate the negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100