Piper Sandler Upgrades Newmark Group to Overweight, Raises Price Target to $13
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Alexander Goldfarb upgraded Newmark Group (NASDAQ:NMRK) from Neutral to Overweight and increased the price target from $7 to $13, indicating a positive outlook on the company's stock.
December 20, 2023 | 10:50 am
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POSITIVE IMPACT
Piper Sandler's upgrade of Newmark Group to Overweight and a raised price target to $13 suggests a bullish stance on the company's future performance.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest improved performance or undervaluation. The substantial increase in the price target from $7 to $13 by Piper Sandler reflects a strong conviction in Newmark Group's potential, likely leading to increased investor interest and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100