Barclays Maintains Overweight on Remitly Global, Lowers Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Ramsey El-Assal has maintained an Overweight rating on Remitly Global (NASDAQ:RELY) but lowered the price target from $25 to $20.
May 06, 2024 | 4:13 pm
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Barclays maintains an Overweight rating on Remitly Global but reduces the price target from $25 to $20.
The adjustment in price target by a major analyst like Barclays can influence investor sentiment, potentially leading to short-term price fluctuations. However, the maintenance of an Overweight rating suggests a positive outlook on the company's fundamentals, which might mitigate any negative impact from the lowered price target.
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