Clarivate just downgraded at Wells Fargo, here’s why

Wells Fargo downgraded Clarivate to Underweight from Equal Weight with an unchanged price target of $8.Post peak interest rates with moderating inflation, the firm’s top business and information services sector picks for 2024 are Ecolab (ECL), FICO (FICO), Moody’s (MCO) and Equifax (EFX). The downgrade of Clarivate is due to the company’s “subdued” growth, high leverage and unlikely portfolio rationalization, the analyst tells investors in a research note.