Wedbush Maintains Neutral on Cerence, Lowers Price Target to $19
Portfolio Pulse from Benzinga Newsdesk
Wedbush analyst Daniel Ives has maintained a Neutral rating on Cerence (NASDAQ:CRNC) but has lowered the price target from $31 to $19.
November 28, 2023 | 2:40 pm
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NEGATIVE IMPACT
Wedbush analyst Daniel Ives maintains a Neutral rating on Cerence but reduces the price target from $31 to $19, indicating a potential downside or limited upside.
The reduction in price target by a significant amount from $31 to $19 by a reputable analyst could lead to a negative investor sentiment and a potential decrease in stock price in the short term. The Neutral rating suggests that the analyst does not see significant upside potential in the stock, which could further contribute to cautious or negative investor outlook.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100