Fastly shares are trading higher after RBC Capital upgraded the stock from Underperform to Sector Perform and raised its price target from $12 to $18.
Portfolio Pulse from Benzinga Newsdesk
Fastly's stock (FSLY) is trading higher following an upgrade from RBC Capital, which changed its rating from Underperform to Sector Perform and increased the price target from $12 to $18.
January 08, 2024 | 5:09 pm
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POSITIVE IMPACT
Fastly's stock is experiencing an increase in value after RBC Capital upgraded the stock and raised the price target.
Analyst upgrades typically lead to a positive short-term reaction in a stock's price as market perception improves. The increase in the price target suggests a higher expected value for the stock, which can lead to increased investor interest and buying activity.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100