InterDigital shares are trading lower after B of A Securities downgraded the stock from Buy to Underperform and lowered its price target from $140 to $100.
Portfolio Pulse from Benzinga Newsdesk
InterDigital's stock trades lower following a downgrade by B of A Securities from Buy to Underperform, with a price target reduction from $140 to $100.
April 01, 2024 | 4:35 pm
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InterDigital's stock is trading lower after a downgrade by B of A Securities, which also reduced its price target from $140 to $100.
The downgrade by a major financial institution like B of A Securities from Buy to Underperform, accompanied by a significant reduction in the price target, is likely to negatively impact investor sentiment and the stock price of InterDigital in the short term. This is because such downgrades and target adjustments are closely watched by investors as indicators of a company's future performance and valuation.
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