Lemonade, Inc. (LMND) saw its stock soar 6.87% in the pre-market trading session on Thursday, driven by a bullish price target upgrade from Piper Sandler.
Piper Sandler raised its price target on Lemonade from $25 to $44, while maintaining a Neutral rating on the shares. This significant price target revision appears to be the primary catalyst behind Lemonade's strong pre-market performance.
While the firm did not provide detailed rationale for the upgrade, the move reflects increased optimism regarding Lemonade's prospects and has boosted investor confidence in the company.
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