Wells Fargo Initiates Coverage On Permian Resources with Overweight Rating, Announces Price Target of $17
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Hanwen Chang has initiated coverage on Permian Resources (NYSE:PR) with an Overweight rating and set a price target of $17.

November 15, 2023 | 9:25 am
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Wells Fargo initiated coverage on Permian Resources with an Overweight rating and a price target of $17.
The initiation of coverage by Wells Fargo with an Overweight rating typically indicates a positive outlook on the stock, suggesting that the analyst believes PR will outperform the market or its sector. The announcement of a price target of $17, which is presumably higher than the current trading price, further supports the potential for stock price appreciation. Investors often react positively to such analyst coverage, which can lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100