Wells Fargo Downgrades Equity Residential to Equal-Weight, Raises Price Target to $77
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst James Feldman has downgraded Equity Residential (NYSE:EQR) from Overweight to Equal-Weight, while raising the price target from $69 to $77.
August 26, 2024 | 12:28 pm
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Wells Fargo has downgraded Equity Residential from Overweight to Equal-Weight, indicating a more neutral stance on the stock. However, the price target has been raised to $77, suggesting potential upside.
The downgrade from Overweight to Equal-Weight suggests a less bullish outlook, which could neutralize investor sentiment. However, the raised price target to $77 indicates potential for price appreciation, balancing the impact.
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