Wells Fargo Maintains Overweight on Cerence, Lowers Price Target to $25
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Colin Langan has maintained an Overweight rating on Cerence (NASDAQ:CRNC) but reduced the price target from $32 to $25.
November 28, 2023 | 2:55 pm
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NEGATIVE IMPACT
Wells Fargo maintains an Overweight rating on Cerence but lowers the price target from $32 to $25, indicating a potential downside compared to the previous target.
The reduction in price target by Wells Fargo suggests that they see less upside potential for Cerence's stock price in the short term. This could lead to a negative investor sentiment and a potential decrease in the stock price as the market adjusts to the new target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100