Goldman Sachs Maintains Neutral on Cerence, Lowers Price Target to $19
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Mark Delaney has maintained a Neutral rating on Cerence Inc. (NASDAQ:CRNC) and reduced the price target from $28 to $19.

November 29, 2023 | 2:10 pm
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NEGATIVE IMPACT
Goldman Sachs has maintained a Neutral rating on Cerence Inc. but lowered the price target from $28 to $19, indicating a potential downside compared to the previous target.
The reduction in price target by a major analyst like Goldman Sachs suggests a bearish outlook on the stock's value, which could lead to a negative short-term impact on Cerence's stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100