HC Wainwright & Co. Maintains Buy on Applied DNA Sciences, Lowers Price Target to $2
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Yi Chen has maintained a Buy rating on Applied DNA Sciences (NASDAQ:APDN) but has reduced the price target from $4 to $2.
December 08, 2023 | 11:59 am
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HC Wainwright & Co. analyst Yi Chen reaffirmed a Buy rating on Applied DNA Sciences but lowered the price target from $4 to $2.
The reduction in the price target by an analyst can often lead to a negative short-term reaction in the stock price as it may suggest a lower future valuation. However, the maintenance of a Buy rating indicates a continued positive outlook on the company, which could mitigate some of the negative impact.
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