B of A Securities Downgrades WEC Energy Group to Underperform, Lowers Price Target to $78
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Julien Dumoulin-Smith downgraded WEC Energy Group (NYSE:WEC) from Neutral to Underperform and reduced the price target from $84 to $78, indicating a bearish outlook on the stock.
January 04, 2024 | 12:32 pm
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NEGATIVE IMPACT
WEC Energy Group was downgraded by B of A Securities from Neutral to Underperform with a price target cut from $84 to $78, suggesting a negative sentiment on the stock's future performance.
Downgrades by analysts, especially from a major firm like B of A Securities, can lead to a negative short-term impact on a stock's price as it reflects a bearish outlook. The reduction in price target further emphasizes the expectation of a lower future stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100