Wells Fargo Downgrades Retail Opportunity to Equal-Weight, Raises Price Target to $15
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Dori Kesten has downgraded Retail Opportunity (NASDAQ:ROIC) from Overweight to Equal-Weight and raised the price target from $14 to $15.
September 20, 2023 | 10:05 am
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Retail Opportunity has been downgraded by Wells Fargo from Overweight to Equal-Weight, with a price target increase from $14 to $15.
The downgrade from Overweight to Equal-Weight suggests that Wells Fargo sees less upside potential for ROIC, which could lead to a neutral short-term impact on the stock. However, the increase in price target from $14 to $15 indicates a positive outlook on the company's value, which could offset the potential negative impact of the downgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100