Wealthfront price target lowered to $15.50 from $16.50 at Wells Fargo

Wells Fargo lowered the firm’s price target on Wealthfront (WLTH) to $15.50 from $16.50 as concerns over Cash asset shrinkage could linger, while keeping an Overweight rating on the shares. The firm notes Q3 results were largely as expected. EBITDA forecasts were little changed, but multiple expansion now may be harder to achieve, Wells adds.