Wedbush Maintains Neutral on Cerence, Lowers Price Target to $9
Portfolio Pulse from Benzinga Newsdesk
Wedbush analyst Daniel Ives maintains a Neutral rating on Cerence (NASDAQ:CRNC) and lowers the price target from $21 to $9.
May 10, 2024 | 2:02 pm
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Wedbush analyst Daniel Ives has maintained a Neutral rating on Cerence but significantly reduced the price target from $21 to $9, indicating a bearish outlook on the stock's short-term price movement.
The substantial reduction in the price target by a prominent analyst suggests a bearish outlook on Cerence's stock, likely due to underperformance or market conditions. This could lead to a negative investor sentiment and a potential decrease in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100