Stifel Downgrades Gracell Biotechnologies to Hold, Lowers Price Target to $10.25
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Benjamin Burnett downgraded Gracell Biotechnologies (GRCL) from Buy to Hold and reduced the price target from $11 to $10.25.
February 22, 2024 | 2:31 pm
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Stifel downgraded Gracell Biotechnologies to Hold and lowered the price target to $10.25.
The downgrade from Buy to Hold by a reputable analyst like Benjamin Burnett suggests a less optimistic outlook on GRCL's stock performance in the near term. Additionally, the reduction in the price target could lead to a negative perception among investors, potentially causing a short-term decline in the stock price.
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IMPORTANCE 90
RELEVANCE 100