Wells Fargo Downgrades WestRock to Equal-Weight, Raises Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Gabrial Hajde has downgraded WestRock (NYSE:WRK) from Overweight to Equal-Weight while increasing the price target from $42 to $45.
January 11, 2024 | 12:59 pm
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WestRock was downgraded by Wells Fargo from Overweight to Equal-Weight, but the price target was raised from $42 to $45.
The downgrade to Equal-Weight suggests a neutral outlook on WestRock's stock, indicating that the stock is expected to perform in line with the market or sector average. However, the increase in the price target to $45 implies a positive view on the company's valuation, which could counterbalance the downgrade's negative impact. The mixed nature of this analyst action may lead to a neutral short-term impact on WestRock's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100