Schrodinger price target lowered to $39 from $47 at Citi

Citi analyst David Lebowitz lowered the firm’s price target on Schrodinger to $39 from $47 and keeps a Buy rating on the shares post the Q4 report. The company’s fiscal 2024 guidance was lower than expected, but management remains confident in the long-term fundamentals, the analyst tells investors in a research note. The firm says the bar for expectations has been reset, and that while the shares will likely be weak on the open, over the long haul, the reset bar should benefit the stock.