Avid Bioservices shares are trading higher after the company reported better-than-expected Q1 adjusted EPS results. Also, RBC Capital maintained an Outperform rating on the stock and raised its price target from $8 to $12.
Portfolio Pulse from Benzinga Newsdesk
Avid Bioservices shares rose following a strong Q1 adjusted EPS report and an increased price target from RBC Capital, which maintained an Outperform rating.
September 10, 2024 | 3:37 pm
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Avid Bioservices shares increased due to better-than-expected Q1 adjusted EPS results. RBC Capital maintained an Outperform rating and raised its price target from $8 to $12.
The positive Q1 EPS results indicate strong financial performance, which is a key driver for stock price appreciation. Additionally, RBC Capital's increased price target and maintained Outperform rating provide further validation and confidence to investors, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100