Wells Fargo Downgrades NOV to Underweight, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Roger Read has downgraded NOV from Equal-Weight to Underweight and reduced the price target from $20 to $16.
September 25, 2024 | 1:25 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Wells Fargo has downgraded NOV to Underweight and lowered its price target to $16, indicating a bearish outlook.
The downgrade from Equal-Weight to Underweight by a major financial institution like Wells Fargo suggests a negative outlook on NOV's stock performance. The reduction in the price target from $20 to $16 further supports this bearish sentiment, likely leading to a short-term decline in NOV's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100