Craig-Hallum Downgrades Cepton to Hold, Announces $2.5 Price Target
Portfolio Pulse from Benzinga Newsdesk
Craig-Hallum analyst Richard Shannon has downgraded Cepton (NASDAQ:CPTN) from Buy to Hold and set a new price target of $2.5.
December 14, 2023 | 2:10 pm
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NEGATIVE IMPACT
Cepton's downgrade from Buy to Hold by Craig-Hallum and the new price target of $2.5 could lead to a negative short term impact on its stock price.
Downgrades by analysts can often lead to a decrease in investor confidence and a subsequent drop in stock price. The setting of a price target can also anchor expectations and if it is lower than the current price, it can serve as a negative signal to the market.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100