Keefe, Bruyette & Woods Downgrades Wells Fargo to Market Perform, Raises Price Target to $62
Portfolio Pulse from Benzinga Newsdesk
Keefe, Bruyette & Woods analyst David Konrad downgraded Wells Fargo (WFC) from Outperform to Market Perform while raising the price target from $56 to $62.

March 27, 2024 | 10:53 am
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NEUTRAL IMPACT
Wells Fargo was downgraded from Outperform to Market Perform by Keefe, Bruyette & Woods, though its price target was raised from $56 to $62.
The downgrade to Market Perform suggests a neutral outlook on the stock's performance, potentially limiting short-term upside. However, the increase in the price target to $62 indicates a positive view on the company's valuation, which could counterbalance the downgrade's impact. The mixed nature of this analyst action makes the short-term price direction uncertain, hence a neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100