Wells Fargo Maintains Equal-Weight on Ares Capital, Raises Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Timothy O'Shea has maintained an Equal-Weight rating on Ares Capital (NASDAQ:ARCC) and increased the price target from $19 to $20.

January 29, 2024 | 2:44 pm
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Wells Fargo analyst Timothy O'Shea reaffirmed an Equal-Weight rating on Ares Capital and raised the price target from $19 to $20, indicating a positive outlook on the stock.
The increase in price target by Wells Fargo suggests a positive sentiment towards Ares Capital's future performance. This could lead to increased investor confidence and a potential short-term rise in the stock price. The Equal-Weight rating indicates that the stock is expected to perform in line with the sector or the overall market, but the raised target price implies that Wells Fargo sees some upside potential.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100