Wells Fargo Maintains Equal-Weight on Zevia, Lowers Price Target to $1
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Chris Carey has maintained an Equal-Weight rating on Zevia (ZVIA) and reduced the price target from $1.25 to $1. This adjustment reflects a cautious stance on ZVIA's stock, potentially due to underlying challenges or market conditions affecting the company's valuation.
May 09, 2024 | 3:50 pm
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Wells Fargo has maintained an Equal-Weight rating on Zevia, but lowered the price target from $1.25 to $1, indicating a cautious outlook on the stock.
The reduction in price target by a significant financial institution like Wells Fargo usually signals a bearish outlook on the stock, suggesting that the analyst sees limited upside potential or increased risk factors that could affect the stock's performance. This could lead to a negative short-term impact on ZVIA's stock price as investors adjust their expectations based on this new analysis.
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