Citigroup Downgrades Arvinas to Neutral, Raises Price Target to $55
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Yigal Nochomovitz downgraded Arvinas (NASDAQ:ARVN) from Buy to Neutral but raised the price target from $36 to $55.
February 14, 2024 | 1:35 pm
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NEUTRAL IMPACT
Arvinas was downgraded by Citigroup from Buy to Neutral, although the price target was increased from $36 to $55.
The downgrade to Neutral suggests a more cautious outlook on Arvinas' stock by Citigroup, potentially due to valuation or other concerns. However, the significant increase in the price target from $36 to $55 indicates a positive view on the company's fundamentals or growth prospects. This mixed signal could lead to short-term uncertainty among investors, balancing the potential for both positive and negative reactions.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100