NextEra Energy Partners shares are trading lower after Wells Fargo downgraded the stock from Overweight to Equal-Weight and lowered its price target from $80 to $33.
Portfolio Pulse from Bill Haddad
NextEra Energy Partners' stock has been downgraded by Wells Fargo from Overweight to Equal-Weight, with its price target also being reduced from $80 to $33. This has resulted in the shares trading lower.
October 02, 2023 | 2:08 pm
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NextEra Energy Partners' stock has been downgraded by Wells Fargo, leading to a decrease in its share price. The price target has also been lowered from $80 to $33.
The downgrade by Wells Fargo from Overweight to Equal-Weight indicates a less optimistic outlook for the company's stock. This, coupled with the significant reduction in the price target, has led to a decrease in the share price. Investors may perceive this as a lack of confidence in the company's future performance, leading to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100