Elastic shares are trading higher after Scotiabank initiated coverage on the stock with a Sector Outperform rating and announced a $185 price target.
Portfolio Pulse from Benzinga Newsdesk
Elastic shares surged following Scotiabank's initiation of coverage with a Sector Outperform rating and a $185 price target.

February 15, 2024 | 3:40 pm
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POSITIVE IMPACT
Elastic's stock price is expected to experience a positive short-term impact due to Scotiabank's Sector Outperform rating and a $185 price target.
Analyst ratings, especially those that are positive like a Sector Outperform rating, tend to influence investor sentiment and can lead to an increase in stock price. The setting of a high price target ($185) further underscores the bullish outlook for Elastic, suggesting that the stock is undervalued at its current price. This combination of a positive rating and a high price target is likely to attract investor interest and drive up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100