HSBC Downgrades Endava to Hold, Raises Price Target to $80
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Phani Kanumuri has downgraded Endava (NYSE:DAVA) from Buy to Hold while increasing the price target from $68 to $80.
January 08, 2024 | 12:12 pm
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NEUTRAL IMPACT
Endava's stock rating was downgraded by HSBC from Buy to Hold, although the price target was raised from $68 to $80.
The downgrade to Hold suggests that HSBC believes Endava's stock may not have much upside potential left, which could temper investor enthusiasm. However, the increase in the price target to $80 indicates a belief that the stock still has room to grow, albeit at a slower pace. This mixed signal could lead to a neutral short-term impact on the stock as the market digests the news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100