Canaccord Genuity Maintains Buy on Hut 8, Lowers Price Target to $14
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst Joseph Vafi maintains a Buy rating on Hut 8 (NASDAQ:HUT) but lowers the price target from $17.5 to $14.
April 05, 2024 | 11:26 am
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NEUTRAL IMPACT
Canaccord Genuity maintains a Buy rating on Hut 8 but lowers the price target from $17.5 to $14.
While the reduction in price target from $17.5 to $14 by Canaccord Genuity could be seen as a negative signal, the maintenance of a Buy rating suggests a continued positive outlook on the company's fundamentals. This mixed signal might lead to a neutral short-term impact on the stock price as investors weigh the lowered price target against the analyst's continued confidence in the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100