Piper Sandler Downgrades Unity Software to Underweight, Raises Price Target to $35
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Brent Bracelin has downgraded Unity Software (NYSE:U) from Neutral to Underweight while increasing the price target from $20 to $35. This suggests that while the analyst sees some improvement in the company's valuation, there are still concerns that may affect the stock's performance.
January 02, 2024 | 12:03 pm
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Unity Software was downgraded by Piper Sandler from Neutral to Underweight, indicating a bearish outlook, but the price target was raised from $20 to $35, suggesting some positive sentiment on valuation.
The downgrade to Underweight implies that the analyst believes Unity Software's stock may underperform the broader market or its sector in the short term. However, the increase in the price target reflects an improved valuation perspective. Investors may view the downgrade as a negative signal, potentially leading to a decrease in the stock price, despite the higher price target suggesting some underlying positive aspects.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100