Root shares are trading higher after Jefferies upgraded the stock from Hold to Buy and raised its price target from $10 to $40.
Portfolio Pulse from Benzinga Newsdesk
Root Inc. shares experienced an increase in trading volume and price following an upgrade by Jefferies from Hold to Buy, along with a significant raise in the price target from $10 to $40.
March 01, 2024 | 5:22 pm
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Root Inc. shares surged after an upgrade by Jefferies, with a new price target set at $40, up from $10.
The upgrade from Hold to Buy by Jefferies, a reputable financial services company, signals a strong vote of confidence in Root Inc.'s future performance. The substantial increase in the price target from $10 to $40 indicates a positive outlook on the company's value and potential for growth, likely leading to increased investor interest and a rise in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100