Wells Fargo Downgrades Frontier Communications to Equal-Weight, Raises Price Target to $38.5
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Caleb Stein has downgraded Frontier Communications from Overweight to Equal-Weight, while raising the price target from $31 to $38.5.
September 06, 2024 | 12:49 pm
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Wells Fargo has downgraded Frontier Communications from Overweight to Equal-Weight, indicating a more neutral stance on the stock. However, the price target has been raised to $38.5, suggesting potential for price appreciation.
The downgrade from Overweight to Equal-Weight suggests a less bullish outlook from Wells Fargo, which could lead to a neutral short-term impact on the stock price. However, the raised price target to $38.5 indicates potential for price appreciation, balancing the downgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100