JP Morgan Downgrades Western Midstream to Neutral, Lowers Price Target to $29
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Jeremy Tonet has downgraded Western Midstream (NYSE:WES) from Overweight to Neutral and lowered the price target from $31 to $29.
August 09, 2023 | 9:11 am
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NEGATIVE IMPACT
Western Midstream's rating has been downgraded by JP Morgan from Overweight to Neutral, with a lowered price target of $29.
The downgrade from JP Morgan, a major financial institution, could negatively impact investor sentiment towards Western Midstream. The lowered price target suggests that JP Morgan expects the stock's future performance to be less robust than previously anticipated.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100