Needham Maintains Buy on Applied Digital, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
Needham analyst John Todaro has maintained a Buy rating on Applied Digital (NASDAQ:APLD) but has reduced the price target from $17.5 to $16.

January 17, 2024 | 11:50 am
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Needham analyst John Todaro maintains a Buy rating on Applied Digital but lowers the price target from $17.5 to $16.
The reduction in price target by Needham could have a mixed impact on Applied Digital's stock price. While maintaining a Buy rating is positive, lowering the price target may suggest a more conservative outlook on the stock's future performance. Investors may interpret this as a sign of tempered expectations, potentially leading to a neutral short-term impact on the stock price.
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