Roth MKM Maintains Buy on Cyclacel Pharmaceuticals, Lowers Price Target to $11
Portfolio Pulse from Benzinga Newsdesk
Roth MKM analyst Jonathan Aschoff has maintained a Buy rating on Cyclacel Pharmaceuticals (NASDAQ:CYCC) but lowered the price target from $21 to $11. This adjustment reflects a revised valuation of the company's prospects.
May 03, 2024 | 2:13 pm
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NEUTRAL IMPACT
Roth MKM maintains a Buy rating on Cyclacel Pharmaceuticals but lowers the price target from $21 to $11.
The maintenance of a Buy rating suggests continued confidence in Cyclacel Pharmaceuticals' fundamentals or growth prospects, despite the significant reduction in the price target. This could indicate a reassessment of the company's near-term revenue or profit potential, possibly due to new data or market conditions. The lowered price target might lead to short-term negative sentiment among investors, but the Buy rating could mitigate some of the negative impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100