Wells Fargo Downgrades Penumbra to Equal-Weight, Lowers Price Target to $150
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Larry Biegelsen has downgraded Penumbra (NYSE:PEN) from Overweight to Equal-Weight and lowered the price target from $289 to $150.
July 31, 2024 | 12:11 pm
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Wells Fargo analyst Larry Biegelsen downgraded Penumbra from Overweight to Equal-Weight and reduced the price target from $289 to $150.
The downgrade from Overweight to Equal-Weight and the significant reduction in the price target from $289 to $150 by a major analyst like Wells Fargo is likely to negatively impact Penumbra's stock price in the short term.
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