Wells Fargo Maintains Underweight on REE Automotive, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Colin Langan has maintained an Underweight rating on REE Automotive (NASDAQ:REE), while reducing the price target from $4.5 to $4.
March 28, 2024 | 4:50 pm
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Wells Fargo analyst Colin Langan has maintained an Underweight rating on REE Automotive, with a reduced price target from $4.5 to $4.
The reduction in price target by a significant financial institution like Wells Fargo, especially with an Underweight rating, suggests a bearish outlook on REE Automotive's stock. This could lead to a decrease in investor confidence and potentially lower stock prices in the short term.
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