Rosenblatt Downgrades Ansys to Neutral, Raises Price Target to $345
Portfolio Pulse from Benzinga Newsdesk
Rosenblatt analyst Blair Abernethy has downgraded Ansys (NASDAQ:ANSS) from Buy to Neutral, while increasing the price target from $332 to $345. This reflects a more cautious stance on the stock despite a slight increase in the expected share price.
January 17, 2024 | 11:00 am
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NEUTRAL IMPACT
Ansys has been downgraded by Rosenblatt from Buy to Neutral, but the price target was raised from $332 to $345, indicating a mixed outlook.
The downgrade to Neutral suggests that Rosenblatt sees limited upside potential or increased risk in Ansys's stock, which could lead to short-term price stagnation or volatility. However, the increase in the price target implies a belief that the stock still has room to grow, albeit at a potentially slower pace. Investors may have mixed reactions to this news, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100