Wells Fargo Maintains Overweight Rating for Range Resources: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wells Fargo has maintained its Overweight rating for Range Resources (NYSE:RRC) and increased its price target from $38.00 to $40.00. Despite this, shares of Range Resources have fallen by 1.07% over the last 24 hours, trading at $34.37 per share. A move to $40.00 would represent a 16.38% increase from the current share price.
October 20, 2023 | 5:00 pm
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Wells Fargo has maintained its Overweight rating for Range Resources and raised its price target, indicating a positive outlook for the company. However, the stock has fallen by 1.07% over the last 24 hours.
The Overweight rating and increased price target from Wells Fargo suggest a positive outlook for Range Resources. However, the recent drop in share price may indicate market skepticism or other factors not reflected in the analyst rating. The impact of this news on the stock price will depend on how investors interpret and react to these mixed signals.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100