Goldman Sachs Maintains Sell Rating for H&R Block: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Goldman Sachs has reaffirmed its Sell rating on H&R Block (NYSE:HRB) but increased its price target from $34.00 to $38.00. Despite this adjustment, H&R Block's shares have fallen by 3.93% in the last 24 hours to $45.48, indicating a potential further decline of 16.45% to reach the new target price. H&R Block, primarily operating in the U.S., Canada, and Australia, offers income tax return preparation services and digital tax solutions, with the majority of its revenue coming from U.S. assisted tax preparation fees.
February 07, 2024 | 5:00 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Goldman Sachs maintains a Sell rating on H&R Block but raises its price target from $34 to $38. HRB's shares have recently fallen by 3.93% to $45.48, suggesting a potential further decline.
The maintenance of a Sell rating by a prominent financial institution like Goldman Sachs, coupled with a recent drop in share price, suggests a bearish outlook for H&R Block in the short term. The increase in the price target does not negate the Sell rating but indicates a slightly less negative valuation than before. Given the company's significant reliance on the U.S. market for revenue, any changes in analyst ratings are likely to have a notable impact on investor sentiment and stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100