Wells Fargo Maintains Equal-Weight Rating for PacWest Banc: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wells Fargo has maintained its Equal-Weight rating for PacWest Banc (NASDAQ:PACW) but lowered its price target from $13.50 to $9.00. PacWest Banc's shares are currently trading up 0.84% at $7.45 per share. A move to $9.00 would represent a 20.77% increase from the current share price.
October 04, 2023 | 5:00 pm
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Wells Fargo has maintained its Equal-Weight rating for PacWest Banc but lowered its price target. This could potentially influence investor sentiment and the stock's price.
The lowered price target by Wells Fargo could potentially lead to a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintenance of the Equal-Weight rating indicates that the bank still sees value in the stock, which could balance out the potential negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100