2020-07-02 04:54:18 | Livongo Health downgraded to Neutral from Buy at Goldman SachsGoldman Sachs analyst Robert Jones downgraded Livongo Health to Neutral from Buy with a price target of $70, up from $48. The stock closed Wednesday down 78c to $74.41. Since its initial public offering on July 26, 2019, Livongo has outperformed the market by 92% as management has "over delivered relative to already healthy expectations," Jones tells investors in a research note. Though positive on the company's growth prospects, the analyst sees a more balanced risk/reward at current share levels. He'd look to become incremental buyers of Livongo shares once some of its "more nascent" long-term opportunities "become more fleshed out and gain traction." | |
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