Wells Fargo Downgrades Hess to Equal-Weight, Raises Price Target to $171
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Roger Read has downgraded Hess (NYSE:HES) from Overweight to Equal-Weight, while raising the price target from $170 to $171.
October 24, 2023 | 2:43 pm
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NEUTRAL IMPACT
Hess has been downgraded to Equal-Weight from Overweight by Wells Fargo, with a slight increase in the price target from $170 to $171.
The downgrade from Overweight to Equal-Weight suggests that the analyst sees less upside potential in the stock, which could lead to some selling pressure. However, the slight increase in the price target indicates a positive outlook for the company's fundamentals. The net impact on the stock price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100