ALX Oncology shares are trading higher after Jefferies upgraded the stock from Hold to Buy and raised its price target from $8 to $18.
Portfolio Pulse from Benzinga Newsdesk
ALX Oncology's stock has seen a positive movement after Jefferies upgraded the company from Hold to Buy and increased the price target from $8 to $18.
December 08, 2023 | 3:45 pm
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POSITIVE IMPACT
ALX Oncology's stock is likely to experience a short-term increase in price following the upgrade from Hold to Buy by Jefferies and a significant raise in the price target from $8 to $18.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest a better-than-previously-expected performance and outlook for the company. The substantial increase in the price target from $8 to $18 indicates a strong conviction from Jefferies about the future performance of ALX Oncology, which can instill confidence in investors and potentially drive up the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100