Valvoline price target lowered to $40 from $42 at Wells Fargo

Wells Fargo lowered the firm’s price target on Valvoline to $40 from $42 and keeps an Overweight rating on the shares. While Q4 wasn’t perfect, the firm believes the rally is warranted on the heels of softening sentiment, and Wells likes the setup for FY24, the analyst tells investors in a research note.