Wells Fargo Downgrades Omnicom Group to Equal-Weight, Lowers Price Target to $88
Portfolio Pulse from richadhand@benzinga.com
Wells Fargo analyst Steven Cahall has downgraded Omnicom Group (NYSE:OMC) from Overweight to Equal-Weight and lowered the price target from $109 to $88.
July 24, 2023 | 9:20 am
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NEGATIVE IMPACT
Omnicom Group's rating has been downgraded by Wells Fargo from Overweight to Equal-Weight, with a reduced price target of $88.
The downgrade by Wells Fargo, a major financial institution, could negatively impact investor sentiment towards Omnicom Group. The lowered 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