This Exxon Mobil Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have downgraded several notable stocks, including Exxon Mobil, Vail Resorts, Gen Digital, Halozyme Therapeutics, and Concrete Pumping Holdings. These downgrades come with adjusted price targets and varying impacts on the stock prices.
June 07, 2024 | 1:30 pm
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POSITIVE IMPACT
Piper Sandler downgraded Halozyme Therapeutics from Overweight to Neutral but raised the price target from $48 to $51. Shares rose 12.7% to settle at $51.44.
Despite the downgrade to Neutral, the raised price target and significant share price increase suggest a positive market reaction to Halozyme Therapeutics.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
William Blair downgraded Concrete Pumping Holdings from Outperform to Market Perform. Shares rose 0.7% to settle at $7.53.
The downgrade to Market Perform indicates a neutral outlook for Concrete Pumping Holdings. The slight increase in share price suggests limited immediate impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley downgraded Gen Digital from Overweight to Equal-Weight and cut the price target from $28 to $27. Shares fell 0.1% to settle at $25.44.
The downgrade to Equal-Weight and the slight reduction in the price target suggest a neutral outlook for Gen Digital. The minor drop in share price aligns with the downgrade.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
JP Morgan downgraded Vail Resorts from Neutral to Underweight and reduced the price target from $217 to $176. Shares gained 0.6% to close at $193.95.
The downgrade to Underweight and the reduced price target indicate a bearish outlook for Vail Resorts. The slight increase in share price may reflect short-term market dynamics.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Truist Securities downgraded Exxon Mobil from Buy to Hold and cut the price target from $146 to $124. Despite the downgrade, shares rose 0.8% to close at $113.97.
The downgrade from Buy to Hold and the significant cut in the price target suggest a less optimistic outlook for Exxon Mobil. However, the stock price rose slightly, indicating mixed market reactions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100