Wells Fargo Downgrades Velocity Financial to Underweight, Announces $20 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Donald Fandetti has downgraded Velocity Financial (NYSE:VEL) from Overweight to Underweight, setting a price target of $20.
September 20, 2024 | 12:57 pm
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Wells Fargo has downgraded Velocity Financial from Overweight to Underweight, with a new price target of $20. This downgrade may indicate a less favorable outlook for the company's stock performance.
The downgrade from Overweight to Underweight by a major financial institution like Wells Fargo suggests a negative outlook on Velocity Financial's stock. The $20 price target indicates a potential decrease in stock value, likely leading to short-term downward pressure on the stock price.
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