Barclays Downgrades Exelixis to Equal-Weight, Maintains Price Target to $25
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Peter Lawson downgraded Exelixis (NASDAQ:EXEL) from Overweight to Equal-Weight while maintaining the price target at $25.
April 11, 2024 | 12:55 pm
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NEUTRAL IMPACT
Barclays downgraded Exelixis from Overweight to Equal-Weight, with a maintained price target of $25.
The downgrade by Barclays could lead to mixed reactions in the market. While the change from Overweight to Equal-Weight suggests a more cautious view by the analyst, the maintenance of the price target at $25 indicates a belief in the company's value proposition. This could result in short-term volatility as investors reassess their positions based on the new rating.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100