RBC Capital Upgrades GoDaddy to Outperform, Raises Price Target to $124
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Brad Erickson upgraded GoDaddy (NYSE:GDDY) from Sector Perform to Outperform and increased the price target from $90 to $124, indicating a positive outlook on the company's performance.
November 22, 2023 | 10:53 am
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GoDaddy's stock rating was upgraded by RBC Capital from Sector Perform to Outperform, with a significant raise in price target from $90 to $124, suggesting strong confidence in the company's potential.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they reflect an expectation of improved performance and growth prospects for the company. The substantial increase in the price target from $90 to $124 by a reputable analyst at RBC Capital is likely to instill investor confidence and could result in a short-term price increase for GoDaddy's stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100