Wells Fargo Upgrades California Water Servs Gr to Equal-Weight, Lowers Price Target to $56
Portfolio Pulse from richadhand@benzinga.com
Wells Fargo analyst Jonathan Reeder has upgraded California Water Servs Gr (NYSE:CWT) from Underweight to Equal-Weight, but lowered the price target from $58 to $56.
June 28, 2023 | 9:31 am
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NEUTRAL IMPACT
Wells Fargo has upgraded CWT to Equal-Weight from Underweight, indicating a more positive outlook. However, the price target has been lowered from $58 to $56.
The upgrade from Underweight to Equal-Weight suggests that Wells Fargo now views CWT as a more attractive investment. However, the lowering of the price target could indicate a slightly less optimistic view on the company's future performance. This could lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100