Why Lemonade Stock Soared by 16% This Week
An analyst move on Tuesday sweetened investor sentiment toward next-generation insurance company Lemonade (NYSE: LMND), as did developments in the technology that pundit was bullish about. With that, the stock rose by more than 16% over the course of the week, according to data compiled by S&P Global Market Intelligence.
The analyst was Bob Huang of ever-influential investment bank Morgan Stanley. He upgraded his recommendation on Lemonade to overweight (read: buy) from equalweight (hold). He also raised his price target to $85 per share, up from $80.
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Source Fool.com
