Guggenheim Downgrades Immunogen to Neutral, Raises Price Target to $31
Portfolio Pulse from Benzinga Newsdesk
Guggenheim analyst Michael Schmidt has downgraded Immunogen (NASDAQ:IMGN) from Buy to Neutral while increasing the price target from $25 to $31.

December 01, 2023 | 9:38 am
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NEUTRAL IMPACT
Immunogen was downgraded by Guggenheim from Buy to Neutral, although the price target was raised from $25 to $31.
The downgrade to Neutral suggests that Guggenheim sees limited upside potential or increased risk in the stock, which could lead to a neutral or slightly negative market reaction. However, the increase in the price target to $31 indicates a positive view on the company's valuation, which could counterbalance the downgrade effect. The net impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100