Wells Fargo Maintains Overweight on Rent the Runway, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Ike Boruchow has maintained an Overweight rating on Rent the Runway (NASDAQ:RENT) but lowered the price target from $8 to $4.
September 11, 2023 | 2:43 pm
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Rent the Runway's price target has been lowered from $8 to $4 by Wells Fargo, though the Overweight rating is maintained.
The lowering of the price target by Wells Fargo indicates a potential decrease in the stock's value. However, the maintained Overweight rating suggests that the stock is still expected to outperform. This mixed signal could lead to short-term uncertainty and potential downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100