Scotiabank upgrades Webull to Sector Outperform after congressional report sell‑off
Webull Corp (BULL) shares rose about 4% in pre‑market trading after Scotiabank upgraded the stock to Sector Outperform and kept its $9 price target. The upgrade came following a roughly 20% drop on Wednesday triggered by a U.S. House panel report on the firm’s China ties. Rosenblatt Securities maintained a Buy rating but lowered its target to $12, citing headline risk rather than fundamental damage.
Why it matters
Scotiabank’s upgrade and unchanged $9 target suggest the regulatory headline has limited impact on earnings, which may support further price appreciation. Rosenblatt’s reduced target to $12 signals a more modest upside than its prior $15 view, giving investors a revised valuation range.
Key facts
- 1Scotiabank upgraded Webull to Sector Outperform and kept its price target at $9.00. investing.com
- 2Webull shares rose 4.2% in pre‑market trading after the upgrade. investing.com
- 3The upgrade followed a 20% decline in Webull shares after a U.S. House panel report on its China connections. investing.com
- 4Rosenblatt Securities kept a Buy rating but cut its price target to $12. finance.biggo.com
- 5Webull reported Q2 earnings of $0.05 per share. investing.com
- 6Q2 revenue was $198.8 million, up 51% year‑over‑year. investing.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.