Palomar Holdings shares are trading higher after Jefferies upgraded the stock from Hold to Buy and raised its price target from $78 to $88.
Portfolio Pulse from Benzinga Newsdesk
Palomar Holdings' stock price increased following an upgrade from Jefferies, moving from Hold to Buy, with a new price target set at $88, up from $78.
March 14, 2024 | 2:52 pm
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POSITIVE IMPACT
Palomar Holdings' stock price is likely to experience a short-term increase following the upgrade by Jefferies from Hold to Buy, with a raised price target from $78 to $88.
Stock upgrades by reputable financial institutions like Jefferies often lead to a positive short-term reaction in the stock market. The increase in the price target from $78 to $88 represents a significant upward revision, indicating a strong conviction in the company's future performance. This is likely to boost investor confidence and drive up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100