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.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100