Ubiquiti shares are trading lower after Barclays maintained an Underweight rating on the stock and lowered its price target from $108 to $104.
Portfolio Pulse from Benzinga Newsdesk
Ubiquiti shares declined after Barclays maintained an Underweight rating and reduced its price target from $108 to $104.
August 27, 2024 | 4:23 pm
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NEGATIVE IMPACT
Barclays has maintained an Underweight rating on Ubiquiti and lowered its price target from $108 to $104, leading to a decline in the stock price.
The reduction in price target and maintenance of an Underweight rating by Barclays suggests a negative outlook on Ubiquiti's stock, likely causing investors to sell off shares, leading to a price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100