Wells Fargo Downgrades Phillips Edison to Underweight, Announces $35 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Tammi Fique has downgraded Phillips Edison (NASDAQ:PECO) from Equal-Weight to Underweight and set a price target of $35.
September 20, 2023 | 10:06 am
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NEGATIVE IMPACT
Phillips Edison has been downgraded by Wells Fargo from Equal-Weight to Underweight with a price target of $35.
The downgrade from Wells Fargo is likely to negatively impact the short-term price of PECO. The new rating of Underweight suggests that the analyst believes the stock will underperform compared to other stocks. The price target of $35 also provides a benchmark that the market may react to.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100