Lake Street Maintains Buy on Applied Digital, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Lake Street analyst Rob Brown has maintained a Buy rating on Applied Digital (NASDAQ:APLD) but has lowered the price target from $19 to $7.
April 12, 2024 | 2:47 pm
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Lake Street analyst Rob Brown maintains a Buy rating on Applied Digital but lowers the price target from $19 to $7.
The reduction in price target from $19 to $7 by a reputable analyst could lead to a negative short-term sentiment among investors, potentially causing a decrease in stock price. However, the maintenance of a Buy rating indicates underlying confidence in the company's fundamentals, which might mitigate some negative impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100