Deutsche Bank Downgrades Shockwave Medical to Hold, Raises Price Target to $335
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Imron Zafar downgraded Shockwave Medical (SWAV) from Buy to Hold while raising the price target from $270 to $335.
April 08, 2024 | 4:47 pm
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NEUTRAL IMPACT
Shockwave Medical was downgraded by Deutsche Bank from Buy to Hold, with a price target increase from $270 to $335.
The downgrade to Hold suggests a neutral outlook on the stock's immediate price movement, indicating that the stock might not have much upside potential in the short term according to Deutsche Bank. However, the increase in the price target from $270 to $335 reflects a positive adjustment in the long-term valuation of the company, which could signal underlying strength or growth prospects not immediately reflected in the stock price. The mixed signals could lead to short-term price stability as investors reassess the company's valuation and future growth potential.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100