Why Lemonade Stock Slipped Today

Lemonade's (NYSE: LMND) stock continued on its recent downward trend on Friday, although its price drop wasn't as severe as in previous days. It slipped by 0.1% on an otherwise bullish day for the market; two analysts' share price target chops were the catalysts for the latest fall.

On Friday morning, Oppenheimer (NYSE: OPY) prognosticator Jason Helfstein lopped $40 off his previous $85 per share price target for Lemonade, giving it a new target of $45. Despite that rather deep cut, Helfstein is maintaining his outperform (i.e., buy) recommendation on the stock.

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Source Fool.com