Lightspeed POS Inc (LSPD) saw its stock price plummet 5.03% during intraday trading on Wednesday, marking a significant downward movement for the payments technology company.
The decline followed news that Truist lowered its price target on Lightspeed to $11 from $13, while maintaining a Hold rating on the shares. Analysts at the firm updated their model, indicating reduced expectations for the stock's future performance.
Such price target revisions by major financial institutions often influence investor sentiment and can trigger immediate market reactions, as seen with Lightspeed's sharp intraday drop.
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