Citigroup Downgrades Western Midstream to Neutral, Raises Price Target to $34
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Spiro Dounis downgraded Western Midstream (NYSE:WES) from Buy to Neutral but raised the price target from $30 to $34.
February 29, 2024 | 12:11 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Western Midstream was downgraded by Citigroup from Buy to Neutral, although the price target was increased from $30 to $34.
The downgrade to Neutral suggests a more cautious outlook on WES by Citigroup, potentially due to valuation or other concerns. However, the increase in price target to $34 indicates an expectation of some positive performance. This mixed signal could lead to short-term uncertainty among investors, likely resulting in neutral impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90