Wells Fargo Downgrades Amazon.com to Equal-Weight, Lowers Price Target to $183
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo has downgraded Amazon.com from Overweight to Equal-Weight and reduced its price target from $225 to $183.
October 07, 2024 | 4:07 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Wells Fargo analyst Ken Gawrelski downgraded Amazon.com from Overweight to Equal-Weight and reduced the price target from $225 to $183, indicating a more cautious outlook on the stock.
The downgrade from Overweight to Equal-Weight suggests a less optimistic view on Amazon's stock performance. The reduction in the price target from $225 to $183 indicates expectations of lower future stock price appreciation. This is likely to negatively impact the stock price in the short term as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100