RBC Capital Maintains Outperform on Avid Bioservices, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Sean Dodge has maintained an Outperform rating on Avid Bioservices (NASDAQ:CDMO) but has reduced the price target from $15 to $7.
December 08, 2023 | 5:36 pm
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RBC Capital analyst reaffirms Outperform rating on Avid Bioservices but slashes price target by over 50% from $15 to $7.
The reduction in price target by RBC Capital is a significant change, suggesting a reassessment of Avid Bioservices' future prospects or valuation. While the Outperform rating indicates a positive view on the stock, the substantial decrease in the price target could lead to short-term negative sentiment among investors and potential downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100