Truist Securities Maintains Buy on HashiCorp, Lowers Price Target to $27
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst Miller Jump has maintained a Buy rating on HashiCorp (NASDAQ: HCP) but has reduced the price target from $34 to $27.
December 08, 2023 | 4:58 pm
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NEGATIVE IMPACT
Truist Securities analyst reaffirms a Buy rating on HashiCorp but lowers the price target to $27, indicating a potential downside compared to the previous target.
The reduction in the price target by Truist Securities could lead to a negative short-term impact on HashiCorp's stock price as it suggests a lower valuation than previously estimated. However, the maintenance of a Buy rating indicates the analyst's continued confidence in the company's fundamentals, which may mitigate some negative sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100