Craig-Hallum Maintains Hold on Cerence, Lowers Price Target to $8
Portfolio Pulse from Benzinga Newsdesk
Craig-Hallum analyst Jeff Van Rhee maintains a Hold rating on Cerence (NASDAQ:CRNC) and lowers the price target from $22 to $8.
May 10, 2024 | 4:21 pm
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Cerence's price target was significantly reduced from $22 to $8 by Craig-Hallum, although the Hold rating was maintained.
A substantial reduction in the price target by an analyst, especially one as drastic as from $22 to $8, typically signals a negative outlook on the stock's short-term price potential. Although the Hold rating was maintained, the lowered price target could lead to decreased investor confidence and a potential short-term decline in the stock price.
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IMPORTANCE 90
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