Citigroup Downgrades Summit Therapeutics to Neutral, Raises Price Target to $23
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Yigal Nochomovitz has downgraded Summit Therapeutics from Buy to Neutral, while raising the price target from $19 to $23.
September 27, 2024 | 2:01 pm
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NEUTRAL IMPACT
Citigroup has downgraded Summit Therapeutics from Buy to Neutral, indicating a more cautious outlook. However, the price target has been raised to $23, suggesting potential for price appreciation.
The downgrade from Buy to Neutral suggests a less optimistic view on the stock's immediate performance, which could lead to a neutral short-term impact. However, the raised price target to $23 indicates potential for future price appreciation, balancing the downgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100