Citi analyst Spiro Dounis downgraded Western Midstream to Neutral from Buy with a price target of $34, up from $30. The analyst cites valuation for the downgrade following the stock’s recent outperformance. With positive factors now largely priced in and the stock trading in line with peers, Western Midstream offers a a more balanced risk/reward trade-off, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on WES:
- Western Midstream price target raised to $34 from $31 at Wells Fargo
- WESTERN MIDSTREAM ANNOUNCES FOURTH-QUARTER POST-EARNINGS INTERVIEW WITH CHIEF FINANCIAL OFFICER, KRISTEN SHULTS AND PARTICIPATION IN UPCOMING INVESTOR CONFERENCES
- Western Midstream reports Q4 EPS 74c, consensus 78c
- Western Midstream provides 2024 guidance
- WESTERN MIDSTREAM ANNOUNCES FOURTH-QUARTER AND FULL-YEAR 2023 RESULTS
