Cardinal Health shares are trading lower after Wells Fargo initiated coverage on the stock with an Underweight rating and announced a $96 price target.
Portfolio Pulse from Benzinga Newsdesk
Cardinal Health's stock (CAH) trades lower following Wells Fargo's initiation of coverage with an Underweight rating and a $96 price target.

December 14, 2023 | 3:48 pm
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Wells Fargo initiated coverage on Cardinal Health with an Underweight rating and a $96 price target, leading to a decrease in the stock's trading price.
Analyst ratings can significantly influence investor sentiment and stock prices. An Underweight rating suggests that Wells Fargo analysts believe CAH will underperform the market or its sector, which can lead to a decrease in investor confidence and a subsequent drop in the stock price. The $96 price target also provides a benchmark that may be lower than current market expectations, potentially contributing to the negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100