Wells Fargo Maintains Equal-Weight Rating for Park Hotels & Resorts: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wells Fargo has maintained its Equal-Weight rating on Park Hotels & Resorts (NYSE:PK) and increased its price target from $14.00 to $15.00. PK's shares are currently trading at $15.08, which is slightly above the new target. Park Hotels & Resorts focuses on high-quality assets in the U.S. and operates under Hilton brands.
December 08, 2023 | 5:00 pm
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NEUTRAL IMPACT
Wells Fargo maintains Equal-Weight rating on Park Hotels & Resorts with a raised price target from $14.00 to $15.00, while PK trades at $15.08.
The maintenance of an Equal-Weight rating suggests Wells Fargo's neutral stance on PK's stock, while the increase in price target indicates a positive outlook on the company's value. However, since the stock is already trading above the new target, the immediate impact on the stock price may be limited. The rating and target change are directly related to PK and are important for investors, but the stock is already trading above the target, which may reduce the impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100