UBS Downgrades Cytokinetics to Neutral, Raises Price Target to $92
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Ashwani Verma downgraded Cytokinetics (NASDAQ:CYTK) from Buy to Neutral but increased the price target from $61 to $92.
January 24, 2024 | 12:57 pm
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NEUTRAL IMPACT
UBS downgraded Cytokinetics to Neutral from Buy, but raised the price target to $92, indicating a mixed outlook.
The downgrade to Neutral suggests that UBS sees limited upside potential or increased risk in the short term, which could temper investor enthusiasm. However, the significant increase in the price target from $61 to $92 indicates a positive view on the company's long-term prospects, which may counterbalance the downgrade's negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100