Loop Capital Downgrades Reddit to Hold, Maintains Price Target to $75
Portfolio Pulse from Benzinga Newsdesk
Loop Capital has downgraded Reddit (NYSE:RDDT) from Buy to Hold, while maintaining the price target at $75.
July 16, 2024 | 10:29 am
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NEGATIVE IMPACT
Loop Capital has downgraded Reddit from Buy to Hold, while maintaining the price target at $75. This indicates a more cautious outlook on the stock's short-term performance.
The downgrade from Buy to Hold suggests that the analyst sees limited upside potential in the near term, which could lead to a negative sentiment among investors and a potential short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100