HC Wainwright & Co. Maintains Buy on Electra Battery Materials, Lowers Price Target to $1.6
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Heiko Ihle has maintained a Buy rating on Electra Battery Materials (NASDAQ:ELBM) but has reduced the price target from $2.5 to $1.6.
November 20, 2023 | 12:04 pm
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Electra Battery Materials' price target has been lowered from $2.5 to $1.6 by HC Wainwright & Co., although the Buy rating is maintained.
While the reduction in price target could be seen as a negative signal, potentially leading to a short-term dip in stock price, the maintenance of a Buy rating suggests that the analyst still sees long-term value in the company. This mixed message may result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100