MacroGenics shares are trading higher after Citigroup upgraded the stock from Neutral to Buy and raised its price target from $7 to $13.
Portfolio Pulse from Benzinga Newsdesk
MacroGenics' stock (MGNX) has seen an increase in its trading price following an upgrade from Citigroup, which changed its rating from Neutral to Buy and increased the price target from $7 to $13.
December 20, 2023 | 3:51 pm
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POSITIVE IMPACT
MacroGenics' stock price is likely to experience a positive short-term impact due to Citigroup's upgrade from Neutral to Buy and a raised price target from $7 to $13.
Analyst upgrades and revised price targets are significant drivers of stock price movement. Citigroup's upgrade to Buy and the substantial increase in the price target for MacroGenics suggest a strong positive sentiment towards the company's prospects, which can lead to increased investor confidence and buying activity, driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100