Hutchmed shares are trading higher after Deutsche Bank upgraded the stock from Hold to Buy and raised its price target from $20 to $22.1.
Portfolio Pulse from Benzinga Newsdesk
Hutchmed's stock is experiencing an uptick following an upgrade from Deutsche Bank, which changed its rating from Hold to Buy and increased the price target from $20 to $22.1.
November 24, 2023 | 3:31 pm
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POSITIVE IMPACT
Hutchmed's stock is likely to see a positive short term impact due to Deutsche Bank's upgrade from Hold to Buy and a raised price target from $20 to $22.1.
Analyst upgrades typically lead to a positive short term reaction in a stock's price as they suggest a better-than-previously-expected future performance. The increase in the price target further reinforces the positive outlook, indicating that the stock may be undervalued at its current price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100