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Friday, March 29, 2024

Antitrust Opposition Prompts Vetr To Upgrade Rite Aid To Strong Buy

Courtesy of Benzinga.

On Monday, the Vetr crowd upgraded their rating for Rite Aid Corporation (NYSE: RAD) from 3.5 stars (Buy), issued 23 days ago, to 5 stars (Strong Buy). Crowd sentiment for the stock is unanimously positive, with 100 percent of Vetr user ratings bullish.

Share price in the drugstore chain plummeted by more than a dollar on Friday, after the the planned acquisition by Walgreens Boots Alliance Inc (NASDAQ: WBA) hit a snag in the form of an antitrust concern. After a slight bounce back that same day, the stock continued to trend down on Monday, where it finished the day at $6.90.

See how crowdsourced ratings could help you time the markets.

Currently, the Vetr crowd’s average target price is up at $8.59, which is below the average analyst target price of $9.00. Less than 2 percent of Vetr users are holding RAD in their watch lists.

Posted-In: VetrUpgrades Price Target Crowdsourcing Analyst Ratings General

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