Wells Fargo Downgrades American States Water to Underweight, Lowers Price Target to $89
Portfolio Pulse from richadhand@benzinga.com
Wells Fargo analyst Jonathan Reeder has downgraded American States Water (NYSE:AWR) from Equal-Weight to Underweight and lowered the price target from $94 to $89.
June 28, 2023 | 9:32 am
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NEGATIVE IMPACT
American States Water has been downgraded to Underweight from Equal-Weight by Wells Fargo, with a reduced price target of $89, down from $94.
The downgrade from Wells Fargo is likely to negatively impact the stock price of American States Water in the short term. The reduced price target suggests that the analyst sees less upside potential in the stock, which could lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100