First Foundation shares are trading higher after Raymond James upgraded the stock from Outperform to Strong Buy and raised its price target from $9.5 to $12.
Portfolio Pulse from Benzinga Newsdesk
First Foundation shares have risen following an upgrade by Raymond James from Outperform to Strong Buy, with an increased price target from $9.5 to $12.
January 05, 2024 | 5:01 pm
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First Foundation's stock has been upgraded by Raymond James from Outperform to Strong Buy, with a price target increase from $9.5 to $12, indicating a positive outlook on the stock.
Analyst upgrades typically lead to a positive short-term reaction in a stock's price as they suggest a better-than-expected future performance. The increase in price target further reinforces the positive sentiment, suggesting that Raymond James analysts believe the stock is undervalued at its current price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100