Wells Fargo Upgrades Valero Energy to Overweight, Lowers Price Target to $165
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Roger Read has upgraded Valero Energy (NYSE:VLO) from Equal-Weight to Overweight, while lowering the price target from $172 to $165.
October 09, 2024 | 1:34 pm
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POSITIVE IMPACT
Wells Fargo has upgraded Valero Energy to Overweight, indicating a positive outlook, but has lowered the price target to $165, suggesting some caution.
The upgrade to Overweight suggests a positive outlook for Valero Energy, which could lead to a short-term increase in stock price. However, the lowered price target to $165 indicates some caution, potentially limiting the upside. Overall, the upgrade is likely to have a more significant impact than the price target reduction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100