The downgrade to Equal-Weight suggests a neutral outlook on VIZIO's stock, indicating that Wells Fargo believes the stock might not outperform the market in the near term. However, the increase in the price target to $11.5 reflects a positive adjustment in the expected stock value, suggesting some level of optimism about the company's financial health or market position. The mixed nature of this news (a downgrade paired with a higher price target) could lead to uncertain short-term impacts on the stock price.