JPMorgan analyst Ella Smith downgraded Informa TechTarget (TTGT) to Underweight from Neutral with a price target of $8, down from $18. After more than two months of delay, the company released its fiscal 2024 results, which were worse than expected, the analyst tells investors in a research note. The firm says that with more clarity on the combined performance and near-term prospects of the newly established company, it does not see Informa TechTarget as having attractive near-term investment characteristics. JPMorgan does not see a near-term turning point or positive catalyst.
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