Wells Fargo Downgrades Stagwell to Equal-Weight, Lowers Price Target to $8
Portfolio Pulse from richadhand@benzinga.com
Wells Fargo analyst Steven Cahall has downgraded Stagwell (NASDAQ:STGW) from Overweight to Equal-Weight and lowered the price target from $9 to $8.
July 24, 2023 | 9:21 am
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Stagwell has been downgraded by Wells Fargo from Overweight to Equal-Weight, with a reduced price target of $8.
The downgrade from Overweight to Equal-Weight by Wells Fargo indicates a less optimistic outlook for Stagwell. The lowering of the price target from $9 to $8 also suggests that the analyst sees less upside potential in the stock. This could negatively impact the stock's price in the short term.
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