Boston Omaha downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded Boston Omaha to Equal Weight from Overweight with a price target of $15, down from $17, following a change in analyst coverage. The firm views the company’s core operations as entering a “more mature phase.” It would like to see steady execution on organic growth for Boston Omaha to justify its prior premium valuation. With the recent co-CEO exit, and subsequent buyout of shares, the Boston Omaha story “has seen some uncharacteristic turbulence,” the analyst tells investors in a research note.