Wells Fargo Downgrades TriplePoint Venture Gwth to Underweight, Lowers Price Target to $8.5
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo has downgraded TriplePoint Venture Growth (TPVG) from Equal-Weight to Underweight and lowered its price target from $9.5 to $8.5.
May 29, 2024 | 11:05 am
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NEGATIVE IMPACT
Wells Fargo has downgraded TriplePoint Venture Growth (TPVG) from Equal-Weight to Underweight and lowered its price target from $9.5 to $8.5. This downgrade and reduced price target could negatively impact TPVG's stock price in the short term.
The downgrade from Equal-Weight to Underweight by a major financial institution like Wells Fargo, along with a lowered price target, typically signals a negative outlook on the stock. This can lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100