Cantor Fitzgerald analyst Brett Knoblauch upgraded SoundHound to Neutral from Underweight with a $4.90 price target. The analyst previously downgraded SoundHound to Underweight citing valuation concerns, but noted the stock’s multiple has contracted by 41% over the last two weeks, from 37x to 21.5x. Cantor now believes the downside risk and upside risk are equal, hence the upgrade to Neutral.
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