Jefferies Assumes Allakos at Buy, Lowers Price Target of $6
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Kevin Strang has initiated coverage on Allakos (NASDAQ:ALLK) with a Buy rating, while also reducing the price target for the company's stock to $6.

December 08, 2023 | 1:59 pm
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Jefferies analyst Kevin Strang has given Allakos a Buy rating, indicating a positive outlook, but has lowered the price target to $6, suggesting a potential downside or limited upside from the current price level.
The initiation of coverage with a Buy rating is generally a positive signal for a stock, indicating the analyst's belief in the company's future performance. However, the reduction in the price target could reflect a more cautious view on the stock's valuation or growth prospects. The mixed nature of this news may lead to a neutral short-term impact on the stock price as investors digest both the positive and negative aspects of the analyst's perspective.
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