Needham Maintains Buy on AudioCodes, Lowers Price Target to $14
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Ryan Koontz maintains a Buy rating on AudioCodes (NASDAQ:AUDC) but lowers the price target from $18 to $14.

May 09, 2024 | 5:37 pm
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Needham maintains a Buy rating on AudioCodes but lowers the price target from $18 to $14.
While the maintenance of a Buy rating by Needham suggests continued confidence in AudioCodes' fundamentals and growth prospects, the reduction in the price target from $18 to $14 indicates a reassessment of the stock's valuation, potentially due to market conditions or company-specific factors not detailed in the article. This mixed signal could lead to short-term price volatility as investors digest the implications of a lower price target against the backdrop of a sustained Buy recommendation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100