After two consecutive dreadful years of returns, investment bank Jefferies is forecasting a rebound in the share price of Darktrace , a British cybersecurity company.
DARK-GB 1Y line The cybersecurity company reported third-quarter results on April 11 that exceeded expectations.
Following the better-than-expected results, Jefferies raised its price target for Darktrace to 890 pence from 550 pence, reiterating its "buy" rating.
The consensus price target of analysts polled by FactSet points to a 24.4% upside potential for the stock.
Brennan's price target is the biggest among all analysts covering the stock.
Persons:
Darktrace, Charles Brennan, —, Jefferies, FactSet
Organizations:
Jefferies, Revenue
Locations:
British, London, U.S