Wells Fargo Downgrades Apple Hospitality REIT to Equal-Weight, Announces $17 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Dori Kesten has downgraded Apple Hospitality REIT (NYSE:APLE) from Overweight to Equal-Weight and set a price target of $17.
December 08, 2023 | 12:03 pm
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Wells Fargo downgraded Apple Hospitality REIT to Equal-Weight and set a price target of $17, potentially affecting investor sentiment and the stock's market performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic outlook on the company's future performance. The new price target of $17 may also recalibrate market expectations.
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