JP Morgan Maintains Underweight on DocuSign, Lowers Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Mark Murphy has maintained an Underweight rating on DocuSign (NASDAQ:DOCU) and reduced the price target from $50 to $45, indicating a bearish outlook on the company's stock.
December 08, 2023 | 6:53 pm
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JP Morgan's analyst Mark Murphy has reaffirmed an Underweight rating on DocuSign and decreased the price target to $45, suggesting a negative sentiment towards DOCU's stock value.
The reduction in price target by a major financial institution like JP Morgan typically reflects a negative outlook on the stock's future performance. This can influence investor sentiment and lead to a decrease in stock price in the short term.
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