Amazon shares are trading lower after Wells Fargo downgraded the stock from Overweight to Equal-Weight and cut its price target from $225 to $183.
Portfolio Pulse from Benzinga Newsdesk
Amazon's stock is experiencing a decline following a downgrade by Wells Fargo from Overweight to Equal-Weight, with a price target reduction from $225 to $183.
October 07, 2024 | 4:45 pm
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Amazon's stock has been downgraded by Wells Fargo from Overweight to Equal-Weight, with a price target cut from $225 to $183, leading to a decline in share price.
The downgrade by a major financial institution like Wells Fargo can significantly impact investor sentiment, leading to a decrease in stock price. The reduction in price target from $225 to $183 suggests a less optimistic outlook on Amazon's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100