HC Wainwright & Co. Maintains Buy on Cybin, Lowers Price Target to $5
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Patrick Trucchio has maintained a Buy rating on Cybin (AMEX:CYBN) but has reduced the price target from $10 to $5.
November 17, 2023 | 11:14 am
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NEGATIVE IMPACT
Cybin's Buy rating is maintained by HC Wainwright & Co., but the price target is cut by 50% from $10 to $5, indicating potential headwinds or revised expectations.
The reduction in price target by a significant 50% suggests that the analyst sees less upside potential for Cybin, which could lead to a negative short-term reaction in the stock price. However, the maintenance of a Buy rating indicates the analyst's overall positive outlook on the company's fundamentals, which may mitigate some negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100