B of A Securities Downgrades Elastic to Neutral, Lowers Price Target to $94
Portfolio Pulse from Benzinga Newsdesk
B of A Securities has downgraded Elastic (NYSE:ESTC) from Buy to Neutral and lowered its price target from $140 to $94.
August 30, 2024 | 11:31 am
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B of A Securities downgraded Elastic from Buy to Neutral and reduced the price target from $140 to $94, indicating a less optimistic outlook.
The downgrade from Buy to Neutral by a major analyst like B of A Securities typically signals a less favorable view on the stock, which can lead to a negative short-term impact on the stock price. The significant reduction in the price target from $140 to $94 further supports this negative outlook.
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