Wells Fargo Downgrades Ballys to Underweight, Maintains Price Target to $10
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Daniel Politzer has downgraded Ballys (NYSE:BALY) from Equal-Weight to Underweight while maintaining the price target at $10.
January 05, 2024 | 1:12 pm
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NEGATIVE IMPACT
Wells Fargo downgraded Ballys from Equal-Weight to Underweight but maintained the price target at $10.
Downgrades by analysts can lead to a negative perception among investors and potentially cause a short-term decline in the stock's price. The maintenance of the price target suggests that the downgrade reflects a change in the stock's risk profile rather than its earnings potential.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100