JP Morgan Downgrades Enfusion: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has downgraded Enfusion (NYSE:ENFN) to Underweight with a new price target of $9.00, down from $11.00. Enfusion's shares are currently trading at $8.19, down 3.65% over the last 24 hours. The new price target suggests a potential upside of 9.89% from the current share price. Enfusion is a SaaS provider aiming to transform the investment management industry by unifying systems and data.
January 30, 2024 | 5:00 pm
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JP Morgan downgraded Enfusion to Underweight and reduced the price target from $11.00 to $9.00. The stock is currently trading at $8.19, down 3.65%.
The downgrade by a major financial institution like JP Morgan is likely to negatively impact investor sentiment in the short term, potentially leading to a decrease in stock price. The reduction in the price target, despite being above the current trading price, reflects a bearish outlook which could further dampen enthusiasm for the stock.
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