Today’s most important downgrades by

© Stocksak Today’s Most Important Downgrades

By Davit Kirakosyan

Bank of America downgraded Meta Platforms Inc (NASDAQ:) to Neutral from Buy and lowered its price target to $150 from $196 ahead of the company’s Q3 release. The analysts expect a much bigger-than-anticipated slowdown for 2023, estimating revenue growth of 4% year-over-year to $120 billion, below the consensus estimate of 9% or $127 billion.

Jefferies has downgraded Williams-Sonoma’s (NYSE:) rating to Underperform from Hold, and lowered its price target from $160 to $100. The analysts expect the company’s shares to underperform ahead of a softer macro and to potentially see the pain lasting until 2025.

FedEx (NYSE 🙂 was downgraded to Equal-weight by Wells Fargo and its price target lowered to $160.00, from $199.00.

Aaron’s (NYSE) shares fell more that 7% today following BofA Securities’ downgrade to Underperform from Neutral. The firm also lowered its price target from $23.00 to $6.50 in advance of the Q3 earnings announcement. Analysts believe that the financial health and demand for high-end items by subprime consumers has deteriorated over recent months. This will likely lead to lower foot traffic, lower collections, and higher write-offs for the company.

Barclays downgraded Qorvo Inc (NASDAQ: ) to Equal-weight by Overweight and lowered the price target to $90.00 instead of $120.00

Get this news first! Upgrade InvestingPro Get real-time market coverage

News Source and Credit

Stocksak Editorial

We are a financial blog that covers topics such as investing, saving, spending, and earning more money. Please feel free to peruse our site and read any of the articles that catch your interest.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button