UBS analyst Alex Kramm downgraded MarketWise to Neutral from Buy with a price target of $3.50, up from $3. The shares have outperformed significantly recently, as the company’s Q3 results showed further signs of stabilization and MarketWise tapped its founder Porter Stansberry as its new CEO, the analyst tells investors in a research note. The firm cites valuation for the downgrade following the recent rally. It says a lot of enthusiasm is now priced into the stock.
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Read More on MKTW:
- MarketWise to Release Third Quarter 2023 Financial Results
- MarketWise declares special dividend of 15c per share
- MarketWise names F. Porter Stansberry as CEO
- MarketWise Announces Leadership Changes to Strengthen Operations and Business Performance; Declares Regular Dividend of Approximately $2.9 Million or $0.01 Per Share; Declares Special Dividend of Approximately $50.0 Million or $0.15 Per Share