Barclays Maintains Overweight on Remitly Global, Lowers Price Target to $21
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Ramsey El-Assal has maintained an Overweight rating on Remitly Global (NASDAQ:RELY) but reduced the price target from $25 to $21.
January 22, 2024 | 3:26 pm
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Barclays has maintained an Overweight rating on Remitly Global but lowered the price target from $25 to $21, indicating a positive outlook but with reduced expectations.
While the Overweight rating suggests that Barclays believes RELY has a positive outlook, the reduction in the price target may reflect a tempered expectation for the stock's performance. This could lead to a neutral short-term impact as the market digests the mixed signals of continued confidence but lower expected price level.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100