Wells Fargo Upgrades Hawaiian Electric Indus to Equal-Weight, Lowers Price Target to $8
Portfolio Pulse from richadhand@benzinga.com
Wells Fargo analyst Neil Kalton has upgraded Hawaiian Electric Industries (NYSE:HE) from Underweight to Equal-Weight, but lowered the price target from $25 to $8.
August 18, 2023 | 8:44 am
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Hawaiian Electric Industries has been upgraded to Equal-Weight by Wells Fargo, but the price target has been lowered to $8.
The upgrade from Underweight to Equal-Weight indicates a more positive outlook on the stock by Wells Fargo. However, the significant reduction in the price target from $25 to $8 suggests a lower future valuation. This mixed signal could lead to uncertainty in the market, potentially keeping the stock price stable in the short term.
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IMPORTANCE 80
RELEVANCE 100