Excelerate Energy shares are trading lower after Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $20 to $19.
Portfolio Pulse from Benzinga Newsdesk
Excelerate Energy's stock is trading lower following a downgrade by Wells Fargo from Equal-Weight to Underweight, with a reduced price target from $20 to $19.
August 30, 2024 | 2:37 pm
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NEGATIVE IMPACT
Excelerate Energy's stock is negatively impacted by Wells Fargo's downgrade from Equal-Weight to Underweight, with a price target cut from $20 to $19.
The downgrade by a major financial institution like Wells Fargo typically signals a lack of confidence in the stock's near-term performance, leading to a negative market reaction. The reduced price target further emphasizes the bearish outlook.
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