BUZZ-Rosenblatt cuts PT on trading platform Webull

Reuters11-21
BUZZ-Rosenblatt cuts PT on trading platform Webull

** Rosenblatt cuts trading platform Webull's BULL.O PT to $15 from $19, 81.8% upside to stock's last close

** Brokerage notes company's Q3 results were strong as revenue beat expectations thanks to better performance across most key metrics such as funded accounts, net spreads, inflows

** Rosenblatt says BULL is performing well, but broader market multiples have compressed

** "We reiterate our BUY rating but lower our Price Target from $19 to $15, now based on 25x our 2027 Adjusted EBITDA estimate down from 33x previously due to market conditions," Rosenblatt says

** Both brokerages covering stock rate it "strong buy" or "buy"; median PT is $18.50

** As of last close, BULL stock is down ~29% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment