Happy holidays from NewsQuantified as the markets finish their final session before the Christmas trading break.
Major indexes registered lackluster performances today, falling slightly on modest volume. Mixed economic news, including solid housing numbers and disappointing income growth, drove the mild selloff.
As is tradition heading into the break, stock news was quite slow on the session. While we still managed to find our users some profitable plays, today we’ll focus on a Top Analyst Action.
NewsQuantified provides our users with constantly updated Win% ratings for major financial analyst groups. When they make a prediction on a stock, our data helps investors evaluate the predictive quality of the price target.
Wells Fargo owns one of the most impressive track records in the NewsQuantified system, winning on over 70% of their stock ratings changes. With that history of success, users took note when Wells Fargo upgraded Digital Realty Trust yesterday. The stock has only inched up about 1% since the upgrade, suggesting substantial upside may remain.
DLR is a real estate investment firm which focuses, as its name suggests, on property investments for data centers and other digital support infrastructure.
Wells Fargo set a $120 price target on the stock, which is currently trading just under $110. The rating is not based on a strategic shift at DLR, but a perceived buying opportunity. The stock’s price has dipped slightly in recent months, and Fargo sees attractive fundamentals at its current valuation.
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