B of A Securities Downgrades Western Midstream to Underperform, Lowers Price Target to $27
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Neel Mitra has downgraded Western Midstream (NYSE:WES) from Buy to Underperform and reduced the price target from $30 to $27, indicating a bearish outlook on the stock.
December 13, 2023 | 1:38 pm
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Western Midstream was downgraded by B of A Securities from Buy to Underperform with a lowered price target from $30 to $27, suggesting a negative sentiment towards the stock's future performance.
Downgrades by analysts, especially from Buy to Underperform, typically lead to negative investor sentiment and can result in a short-term decline in the stock's price. The reduction in the price target further reinforces the bearish outlook, which may influence investors to reassess the stock's value.
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