B. Riley Securities Downgrades Ambrx Biopharma to Neutral, Raises Price Target to $28
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst Yuan Zhi has downgraded Ambrx Biopharma (AMAM) from Buy to Neutral but increased the price target from $26 to $28.
January 09, 2024 | 3:08 pm
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NEUTRAL IMPACT
Ambrx Biopharma was downgraded by B. Riley Securities from Buy to Neutral, although the price target was raised from $26 to $28.
The downgrade to Neutral suggests that B. Riley Securities sees limited upside potential or increased risk in the short term, which could temper investor enthusiasm. However, the increase in the price target to $28 indicates a belief in the company's value proposition and could signal a positive outlook on the company's fundamentals. The mixed signals may result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100