Fastly shares are trading higher after Citigroup upgraded the stock from Sell to Neutral and raised its price target from $11 to $20.
Portfolio Pulse from Benzinga Newsdesk
Fastly's stock (FSLY) is experiencing an uptick following an upgrade from Citigroup, which changed its rating from Sell to Neutral and increased the price target from $11 to $20.
January 22, 2024 | 1:58 pm
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POSITIVE IMPACT
Fastly's stock is likely to see a positive short term impact due to Citigroup's upgrade from Sell to Neutral and a raised price target from $11 to $20.
Analyst upgrades typically lead to a positive short term reaction in a stock's price as they often reflect a change in the company's fundamentals or market perception. The substantial increase in the price target from $11 to $20 by Citigroup suggests a significant change in the expected performance of Fastly, which could lead to increased investor confidence and buying activity.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100