Wells Fargo Initiates Coverage On Ibotta with Overweight Rating, Announces Price Target of $131
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Ken Gawrelski initiates coverage on Ibotta (NYSE:IBTA) with an Overweight rating and a price target of $131.
May 13, 2024 | 1:24 pm
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Wells Fargo has initiated coverage on Ibotta with an Overweight rating and a price target of $131, indicating a positive outlook on the stock.
The initiation of coverage by a major financial institution like Wells Fargo, especially with an Overweight rating and a high price target, is a strong positive signal for Ibotta. It suggests confidence in the company's future performance and growth potential, likely leading to increased investor interest and potentially a rise in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100