Piper Sandler Downgrades Rent the Runway to Neutral, Lowers Price Target to $0.75
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Edward Yruma has downgraded Rent the Runway (NASDAQ:RENT) from Overweight to Neutral and reduced the price target from $2 to $0.75.
January 17, 2024 | 10:40 am
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NEGATIVE IMPACT
Rent the Runway was downgraded by Piper Sandler from Overweight to Neutral, with a significant price target cut from $2 to $0.75.
The downgrade from Overweight to Neutral by a reputable analyst firm like Piper Sandler suggests a less optimistic outlook on Rent the Runway's stock performance. Additionally, the substantial reduction in the price target could lead to a negative investor sentiment and a potential decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100