Mizuho lowered the firm’s price target on ReNew Energy Global (RNW) to $7 from $8.15 and keeps a Neutral rating on the shares after Masdar announced that it is withdrawing from a consortium that planned to take ReNew Energy private. The share selloff is “overdone” and likely reflects arbitrage investors exiting the stock, the analyst tells investors in a research note.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RNW:
- Hold Rating Maintained for ReNew Energy Global Amid Market Uncertainties and Masdar’s Withdrawal
- ReNew Energy Global price target lowered to $7 from $8.15 at Mizuho
- ReNew Energy Global falls -28.9%
- ReNew Energy Global falls -26.9%
- ReNew Energy Global Faces Setback as Masdar Withdraws from Acquisition Consortium