Why Tenable Holdings Stock Crushed the Market on Tuesday
Investors were feeling secure enough about cybersecurity company Tenable Holdings (NASDAQ: TENB) to send its share price up by more than 4% on Tuesday. This followed a recommendation upgrade from an analyst at an influential white-shoe investment bank. By contrast, the S&P 500 index fell on the day, slumping to close almost 0.2% lower.
The upgrader was Morgan Stanley's Hamza Fodderwala, who now feels Tenable is worthy of a tag of overweight (buy, in other words). Previously, he had characterized it as an equalweight (hold).
Accompanying this change, Fodderwala substantially raised his price target on the stock to $60 per share; previously it was $46. At the current share price, this suggests potential upside of over 31%.
Source Fool.com
