B of A Securities Initiates Coverage On Smartsheet with Underperform Rating, Announces Price Target of $45
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Michael Funk has initiated coverage on Smartsheet (NYSE:SMAR) with an Underperform rating and set a price target of $45. This new coverage could influence investor sentiment and potentially impact Smartsheet's stock price in the short term.
February 26, 2024 | 12:54 pm
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B of A Securities analyst Michael Funk has initiated coverage on Smartsheet with an Underperform rating and a price target of $45. This could lead to negative investor sentiment and potentially decrease Smartsheet's stock price in the short term.
Analyst ratings, especially from reputable firms like B of A Securities, can significantly influence investor sentiment and stock prices. An Underperform rating suggests that the analyst believes the stock will not perform as well as the overall market or its sector, potentially leading to a decrease in stock price. The announcement of a specific price target provides a benchmark that investors might use to reassess their valuation of the stock, which in this case is set at $45.
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