Wells Fargo Initiates Coverage On Chord Energy with Overweight Rating, Announces Price Target of $189
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Hanwen Chang has initiated coverage on Chord Energy (NASDAQ:CHRD) with an Overweight rating and set a price target of $189 for the company's stock.
November 15, 2023 | 9:29 am
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NEUTRAL IMPACT
Wells Fargo, as the analyst firm initiating coverage on Chord Energy, may see minor indirect effects on its reputation depending on the market's reception of the analysis.
While the direct impact on Wells Fargo's stock is likely to be minimal, the accuracy of their analysis over time can affect their credibility and influence in the market, which can indirectly affect their stock performance.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Chord Energy received an Overweight rating from Wells Fargo with a price target of $189, indicating a positive outlook from the analyst.
The initiation of coverage by Wells Fargo with an Overweight rating and a high price target typically suggests a strong bullish sentiment towards the stock, which can lead to increased investor interest and potentially a rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100