This General Motors Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have downgraded several major companies, including General Motors, Procter & Gamble, Boot Barn Holdings, Ulta Beauty, and Truist Financial Corporation. Despite some price target adjustments, the downgrades have led to varying impacts on their stock prices.

July 24, 2024 | 12:38 pm
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NEGATIVE IMPACT
UBS downgraded Boot Barn Holdings from Buy to Neutral and slashed the price target from $140 to $125. BOOT shares fell 1% to $122.54.
The downgrade from Buy to Neutral and the significant reduction in price target by UBS has resulted in a 1% drop in BOOT's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley downgraded General Motors from Overweight to Equal-Weight, but increased the price target from $46 to $47. GM shares fell 6.4% to $46.38.
The downgrade from Overweight to Equal-Weight by a major analyst like Morgan Stanley is significant, leading to a notable 6.4% drop in GM's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Jefferies downgraded Procter & Gamble from Buy to Hold and cut the price target from $182 to $175. PG shares fell 1% to $166.62.
The downgrade from Buy to Hold and the reduction in price target by Jefferies has led to a 1% decline in PG's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Piper Sandler downgraded Ulta Beauty from Overweight to Neutral and slashed the price target from $494 to $404. ULTA shares fell 0.6% to $389.29.
The downgrade from Overweight to Neutral and the significant reduction in price target by Piper Sandler has led to a 0.6% decline in ULTA's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Citigroup downgraded Truist Financial Corporation from Buy to Neutral, but raised the price target from $45 to $47. TFC shares rose 0.9% to $44.15.
Despite the downgrade from Buy to Neutral by Citigroup, the increase in price target has led to a 0.9% rise in TFC's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100