Citigroup Downgrades Veeco Instruments to Neutral, Raises Price Target to $50
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Atif Malik has downgraded Veeco Instruments (NASDAQ:VECO) from Buy to Neutral while raising the price target from $45 to $50.
July 15, 2024 | 12:26 pm
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Citigroup analyst Atif Malik downgraded Veeco Instruments from Buy to Neutral, but raised the price target from $45 to $50.
The downgrade from Buy to Neutral suggests a less optimistic outlook on the stock's performance, which could lead to a neutral or slightly negative short-term impact. However, the raised price target to $50 indicates some underlying confidence in the company's value, balancing the overall impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100