Citigroup Downgrades Wells Fargo to Neutral, Raises Price Target to $63
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Keith Horowitz downgraded Wells Fargo (WFC) from Buy to Neutral but raised the price target from $57 to $63.

March 20, 2024 | 5:12 pm
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NEUTRAL IMPACT
Wells Fargo was downgraded by Citigroup from Buy to Neutral, although the price target was increased from $57 to $63.
The downgrade to Neutral suggests a more cautious outlook on Wells Fargo's stock by Citigroup, potentially due to perceived limitations in the stock's upside or emerging risks. However, the increase in the price target to $63 indicates an expectation of some positive performance. This mixed signal could lead to short-term uncertainty among investors, balancing out potential positive and negative impacts on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100