Wells Fargo Downgrades Range Resources to Equal-Weight, Lowers Price Target to $32
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Roger Read has downgraded Range Resources (NYSE:RRC) from Overweight to Equal-Weight and reduced the price target from $40 to $32.
December 14, 2023 | 2:08 pm
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Range Resources was downgraded by Wells Fargo from Overweight to Equal-Weight with a price target decrease from $40 to $32.
Downgrades by analysts can lead to a negative perception among investors and potentially cause a short-term decline in the stock's price. The reduction in the price target further suggests a lower expected future performance for Range Resources, which may influence investors to adjust their positions accordingly.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100