Wells Fargo Downgrades United Natural Foods to Underweight, Announces $15 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Edward Kelly has downgraded United Natural Foods (UNFI) from Equal-Weight to Underweight and set a new price target of $15.
January 04, 2024 | 12:48 pm
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NEGATIVE IMPACT
United Natural Foods has been downgraded by Wells Fargo from Equal-Weight to Underweight with a new price target of $15.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a bearish outlook. The new price target of $15 implies a potential downside from the current market price, which may influence investors to adjust their positions accordingly.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100