This BP Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Monday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have downgraded several major companies, including BP, Cintas Corporation, The Travelers Companies, Altair Engineering, and Armada Hoffler Properties. These downgrades come with revised price targets, reflecting a more cautious outlook.
July 15, 2024 | 1:48 pm
News sentiment analysis
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NEGATIVE IMPACT
Jefferies downgraded Armada Hoffler Properties from Buy to Hold, slashing the price target from $13 to $11.
The downgrade from Buy to Hold and the significant reduction in the price target suggest a less optimistic outlook for Armada Hoffler Properties, likely leading to short-term downward pressure on the stock.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 100
NEGATIVE IMPACT
JP Morgan downgraded Altair Engineering from Overweight to Neutral, setting a price target of $95.
The downgrade from Overweight to Neutral indicates a more cautious stance on Altair Engineering, which may result in short-term selling pressure.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley downgraded BP from Overweight to Equal-Weight, lowering the price target from $49.9 to $41.5.
The downgrade from Overweight to Equal-Weight and the significant reduction in the price target suggest a less optimistic outlook for BP, likely leading to short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
RBC Capital downgraded Cintas Corporation from Outperform to Sector Perform, setting a price target of $725.
The downgrade from Outperform to Sector Perform indicates a more cautious stance on Cintas, which may result in short-term selling pressure.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
TD Cowen downgraded The Travelers Companies from Buy to Hold, reducing the price target from $252 to $230.
The downgrade from Buy to Hold and the reduced price target suggest a more neutral outlook for Travelers, likely leading to short-term downward pressure on the stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100