Piper Sandler Downgrades Cerevel Therapeutics Hldg to Neutral, Raises Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst David Amsellem has downgraded Cerevel Therapeutics Holdings (CERE) from Overweight to Neutral, while increasing the price target from $33 to $45. This reflects a more cautious stance on the stock's current valuation, despite the raised price target suggesting a belief in the company's potential for growth.

December 07, 2023 | 11:00 am
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NEUTRAL IMPACT
Cerevel Therapeutics was downgraded by Piper Sandler from Overweight to Neutral, indicating a shift to a more cautious view on the stock, despite the price target being raised from $33 to $45.
The downgrade to Neutral suggests that Piper Sandler believes Cerevel Therapeutics may not provide significant upside potential relative to its current price, indicating a more conservative short-term outlook. However, the increase in the price target to $45 implies that the analyst sees some positive aspects in the company's fundamentals or growth prospects. This mixed signal could lead to a neutral short-term impact on the stock price as investors digest both the downgrade and the raised price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100