Wells Fargo Downgrades Suburban Propane Partners to Underweight, Maintains Price Target to $17
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo has downgraded Suburban Propane Partners (NYSE:SPH) from Equal-Weight to Underweight, while maintaining the price target at $17.
August 30, 2024 | 1:35 pm
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NEGATIVE IMPACT
Wells Fargo has downgraded Suburban Propane Partners from Equal-Weight to Underweight, indicating a less favorable view on the stock. The price target remains at $17.
The downgrade from Equal-Weight to Underweight by Wells Fargo suggests a negative outlook on SPH, which could lead to a short-term decline in stock price. The maintained price target of $17 indicates no change in expected valuation, but the downgrade itself is a bearish signal.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100