Canaccord Genuity Maintains Buy on Rani Therapeutics Hldgs, Lowers Price Target to $9
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst Edward Nash maintains a Buy rating on Rani Therapeutics Hldgs (NASDAQ:RANI) but lowers the price target from $21 to $9.

March 27, 2024 | 11:23 am
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Canaccord Genuity maintains a Buy rating on Rani Therapeutics Hldgs but lowers the price target from $21 to $9.
While the maintenance of a Buy rating indicates continued confidence in the company's long-term prospects, the significant reduction in the price target could lead to short-term negative sentiment among investors, potentially impacting the stock's price. However, the analyst's continued endorsement suggests underlying value, creating a neutral short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100