Wells Fargo Downgrades Western Midstream to Equal-Weight, Lowers Price Target to $30
Portfolio Pulse from richadhand@benzinga.com
Wells Fargo analyst Ned Baramov has downgraded Western Midstream (NYSE:WES) from Overweight to Equal-Weight and lowered the price target from $31 to $30.
August 11, 2023 | 8:36 am
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Western Midstream's rating has been downgraded by Wells Fargo from Overweight to Equal-Weight, with a reduced price target of $30.
The downgrade from Overweight to Equal-Weight by Wells Fargo indicates a less optimistic outlook for Western Midstream. The lowering of the price target from $31 to $30 also suggests that the analyst sees less upside potential in the stock. This could potentially lead to a negative impact on the stock's price in the short term.
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IMPORTANCE 80
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