Wells Fargo Maintains Equal-Weight on Synaptics, Lowers Price Target to $95
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Gary Mobley has maintained an Equal-Weight rating on Synaptics (NASDAQ:SYNA) and lowered the price target from $115 to $95. This adjustment reflects a revised valuation of Synaptics based on Wells Fargo's analysis.
May 10, 2024 | 3:57 pm
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Wells Fargo's adjustment of Synaptics' price target from $115 to $95 while maintaining an Equal-Weight rating could signal a cautious outlook on the company's short-term growth prospects or market position.
The reduction in price target by Wells Fargo suggests a reassessment of Synaptics' valuation, potentially due to slower growth expectations or market challenges. This could lead to short-term negative sentiment among investors, impacting the stock price negatively.
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