Wells Fargo Downgrades Public Storage to Equal-Weight, Announces $280 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Eric Luebchow downgraded Public Storage (NYSE:PSA) from Overweight to Equal-Weight and set a price target of $280.

December 12, 2023 | 12:53 pm
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NEGATIVE IMPACT
Public Storage was downgraded by Wells Fargo from Overweight to Equal-Weight with a price target of $280.
The downgrade from Overweight to Equal-Weight by a major financial institution like Wells Fargo suggests a neutral outlook on the stock's performance and could lead to a negative short-term reaction in the market as investors adjust their expectations. The price target provides a reference point but does not imply significant upside from current levels.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100