Wells Fargo Downgrades Ares Comml Real Est to Underweight, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo has downgraded Ares Commercial Real Estate (NYSE:ACRE) from Equal-Weight to Underweight and reduced its price target from $7.5 to $7.
September 20, 2024 | 12:55 pm
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Wells Fargo analyst Donald Fandetti downgraded Ares Commercial Real Estate from Equal-Weight to Underweight, reducing the price target from $7.5 to $7.
The downgrade from Equal-Weight to Underweight by a major financial institution like Wells Fargo is likely to negatively impact ACRE's stock price in the short term. The reduction in the price target further supports a bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100