Wells Fargo Downgrades Lumen Technologies to Underweight, Raises Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Eric Luebchow has downgraded Lumen Technologies (NYSE:LUMN) from Equal-Weight to Underweight, while raising the price target from $1.75 to $4.
August 16, 2024 | 11:34 am
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Wells Fargo has downgraded Lumen Technologies from Equal-Weight to Underweight, but raised the price target from $1.75 to $4.
The downgrade to Underweight suggests a negative outlook on Lumen Technologies' stock performance, which is likely to put downward pressure on the stock price. However, the raised price target to $4 indicates some potential for upside, but the overall sentiment remains negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100