This CrowdStrike Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts downgraded several major stocks on Tuesday, including Goldman Sachs, Pure Storage, D.R. Horton, CrowdStrike, and Incyte. These downgrades led to immediate declines in the share prices of the affected companies.
July 02, 2024 | 5:32 pm
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NEGATIVE IMPACT
Piper Sandler downgraded CrowdStrike from Overweight to Neutral, maintaining the price target of $400. Shares fell 1.8% to $385.08.
The downgrade from Overweight to Neutral by Piper Sandler suggests a more cautious outlook, leading to a slight decline in share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Citigroup downgraded D.R. Horton from Buy to Neutral and lowered the price target from $181 to $156. Shares fell 2.2% to $133.99.
The downgrade from Buy to Neutral and a lower price target by Citigroup indicates reduced confidence in the stock, resulting in a decline in share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Seaport Global downgraded Goldman Sachs from Buy to Neutral, causing a 0.7% drop in its share price to $460.26.
The downgrade from Buy to Neutral by Seaport Global indicates a less optimistic outlook, leading to a slight decline in share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
BMO Capital downgraded Incyte from Market Perform to Underperform and cut the price target from $52 to $48. Shares fell 3.1% to $59.01.
The downgrade to Underperform and a lower price target by BMO Capital indicates significant concerns about the company's performance, leading to a notable drop in share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
UBS downgraded Pure Storage from Neutral to Sell, despite raising the price target from $44 to $47. Shares fell 4.8% to $62.36.
The downgrade to Sell by UBS, despite a higher price target, suggests significant concerns about the company's future performance, leading to a notable drop in share price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90