NuScale Power shares are trading lower on continued downward momentum after Wells Fargo yesterday downgraded the stock from Equal-Weight to Underweight and lowered its price target from $7.50 to $4.50.
Portfolio Pulse from Benzinga Newsdesk
NuScale Power's shares continue to trade lower following a downgrade by Wells Fargo from Equal-Weight to Underweight, with a reduced price target from $7.50 to $4.50.
March 20, 2024 | 3:07 pm
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NEGATIVE IMPACT
NuScale Power, potentially associated with the symbol SMR, faces a downturn in stock price following a downgrade by Wells Fargo.
The downgrade by a major financial institution like Wells Fargo, accompanied by a significant reduction in the price target, typically leads to a negative short-term impact on the stock price. The relevance is set at 50 due to uncertainty if SMR directly refers to NuScale Power. The importance is high as analyst ratings can significantly influence investor sentiment and stock performance. Confidence is at 70, reflecting the direct mention of the downgrade and its immediate effect on stock price, despite the ambiguity regarding the symbol SMR.
CONFIDENCE 70
IMPORTANCE 90
RELEVANCE 50