Needham Maintains Buy on Cognex, Lowers Price Target to $50
Portfolio Pulse from Benzinga Newsdesk
Needham analyst James Ricchiuti maintains a Buy rating on Cognex (NASDAQ:CGNX) but lowers the price target from $57 to $50.
August 02, 2024 | 10:29 am
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Needham analyst James Ricchiuti maintains a Buy rating on Cognex but lowers the price target from $57 to $50.
The maintained Buy rating suggests continued confidence in Cognex's long-term prospects, but the lowered price target indicates some short-term concerns or adjustments in valuation. This mixed signal is likely to result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100