Incyte shares are trading higher after Leerink Partners upgraded the stock from Market Perform to Outperform and announced a $78 price target.
Portfolio Pulse from Benzinga Newsdesk
Incyte Corporation's stock (INCY) is trading higher following an upgrade from Leerink Partners, who raised their rating from Market Perform to Outperform and set a price target of $78.
December 13, 2023 | 3:27 pm
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POSITIVE IMPACT
Incyte Corporation's stock is expected to experience a positive short term impact due to Leerink Partners' upgrade from Market Perform to Outperform and a new price target of $78.
Analyst upgrades typically lead to a positive short term reaction in the stock market as they suggest a bullish outlook on the company's performance. The new price target of $78 by Leerink Partners indicates a potential upside from the current trading price, which can attract investors and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100