1244 GMT - Raspberry Pi made solid progress since its IPO on both commercial and technology fronts, HSBC Global Research analysts Rahul Chopra and Matthew Lloyd write in a note. The festive mood lifted the U.K. low-cost computer maker's shares last month, helping them outperform not only the FTSE 250 but also its peers, the analysts say. However, while Raspberry Pi's long-term growth prospects look positive, catalysts that will drive the share price meaningfully higher in the near term are lacking, they add. The U.K. bank downgrades its stock recommendation to reduce from buy and raises its target price to 500 pence from 400 pence. Shares are down 7.4% at 563 pence. (najat.kantouar@wsj.com)
(END) Dow Jones Newswires
January 07, 2025 07:44 ET (12:44 GMT)
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