Canaccord Genuity Downgrades Vertex Pharmaceuticals to Sell, Raises Price Target to $379
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst Whitney Ijem has downgraded Vertex Pharmaceuticals (VRTX) from Hold to Sell, despite raising the price target from $332 to $379.
January 24, 2024 | 11:23 am
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NEUTRAL IMPACT
Canaccord Genuity downgraded Vertex Pharmaceuticals to Sell, but increased the price target from $332 to $379, indicating mixed signals for investors.
The downgrade to Sell suggests a bearish outlook on the stock, which could lead to a short-term negative impact on the share price. However, the increase in the price target to $379 provides a conflicting signal that may mitigate the negative impact. The mixed signals could lead to increased volatility in the short term as the market digests the news.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100