Wells Fargo Downgrades Magnolia Oil & Gas to Underweight, Lowers Price Target to $22
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo has downgraded Magnolia Oil & Gas from Equal-Weight to Underweight and reduced its price target from $26 to $22.
October 01, 2024 | 2:44 pm
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Wells Fargo has downgraded Magnolia Oil & Gas from Equal-Weight to Underweight, reducing the price target from $26 to $22, indicating a bearish outlook.
The downgrade from Equal-Weight to Underweight by Wells Fargo suggests a negative outlook on Magnolia Oil & Gas, likely leading to a decrease in investor confidence and potential selling pressure. The lowered price target from $26 to $22 further supports this bearish sentiment.
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IMPORTANCE 80
RELEVANCE 100