Needham Maintains Buy on Navitas Semiconductor, Lowers Price Target to $9
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Quinn Bolton has maintained a Buy rating on Navitas Semiconductor (NASDAQ:NVTS) but has lowered the price target from $10 to $9.
March 01, 2024 | 1:06 pm
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Needham maintains a Buy rating on Navitas Semiconductor but lowers the price target from $10 to $9.
The maintenance of a Buy rating suggests a positive outlook on NVTS by Needham, indicating confidence in the company's future performance. However, the reduction in the price target from $10 to $9 could reflect a slight adjustment in expectations regarding the company's near-term growth prospects or market conditions. This mixed signal might lead to a neutral short-term impact on NVTS's stock price as investors weigh the continued endorsement against the lowered price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100