Wells Fargo Downgrades T. Rowe Price Gr to Underweight, Raises Price Target to $105
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Finian O'Shea has downgraded T. Rowe Price Gr (TROW) from Equal-Weight to Underweight, while also raising the price target from $95 to $105. This reflects a more bearish stance on the company's stock, despite the increased price target.

January 08, 2024 | 12:48 pm
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Wells Fargo downgraded T. Rowe Price Gr to Underweight but increased the price target to $105, indicating a bearish outlook despite the higher target.
The downgrade to Underweight suggests that Wells Fargo believes TROW will underperform the market or its sector, which could lead to a negative investor sentiment and a potential decrease in the stock price in the short term. However, the increase in the price target might mitigate the impact slightly, as it implies a belief that the stock still has potential to grow in value, albeit at a potentially slower pace than its peers.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100