Needham Maintains Buy on Penguin Solutions, Lowers Price Target to $25
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Quinn Bolton maintains a Buy rating on Penguin Solutions (NASDAQ:PENG) but lowers the price target from $35 to $25.
October 16, 2024 | 10:43 am
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Needham analyst Quinn Bolton maintains a Buy rating on Penguin Solutions but lowers the price target from $35 to $25, indicating a more cautious outlook.
The lowering of the price target from $35 to $25 suggests a more cautious outlook on Penguin Solutions' future performance, which could lead to a short-term negative impact on the stock price. However, the Buy rating indicates that the analyst still sees potential for growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100