Upwork shares are trading higher after Jefferies upgraded the stock from Hold to Buy and raised its price target from $13 to $20.
Portfolio Pulse from Benzinga Newsdesk
Upwork's stock (UPWK) has seen a positive shift in market sentiment after Jefferies upgraded the stock from Hold to Buy and increased the price target from $13 to $20.
January 08, 2024 | 5:33 pm
News sentiment analysis
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POSITIVE IMPACT
Jefferies upgraded Upwork from Hold to Buy and raised the price target from $13 to $20, indicating a bullish outlook on the stock.
Analyst upgrades typically lead to a positive short-term reaction in a stock's price as market sentiment improves. The substantial increase in the price target from $13 to $20 by Jefferies suggests a strong conviction in Upwork's potential for growth, which could encourage investors to buy shares, driving the price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100