This Bristol-Myers Squibb Analyst Turns Bearish; Here Are Top 5 Downgrades For Monday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have downgraded several major companies, including Bristol-Myers Squibb, General Dynamics, Fortinet, Charles Schwab, and Alexandria Real Estate Equities. These downgrades could impact the short-term stock prices of these companies.
July 29, 2024 | 12:32 pm
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NEGATIVE IMPACT
B of A Securities downgraded Alexandria Real Estate Equities from Buy to Neutral, lowering the price target from $151 to $126. Shares gained 2.5% to $118.92.
The downgrade from Buy to Neutral and the reduced price target by B of A Securities suggest a less optimistic outlook, which could lead to a short-term decline or stagnation in ARE's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Barclays downgraded Bristol-Myers Squibb from Equal-Weight to Underweight, maintaining a price target of $41. Shares recently gained 11.4% to $50.45.
The downgrade from Equal-Weight to Underweight by Barclays suggests a bearish outlook, which could lead to a short-term decline in BMY's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Guggenheim downgraded Fortinet from Buy to Neutral. Shares fell 0.5% to $57.00.
The downgrade from Buy to Neutral by Guggenheim suggests a less optimistic outlook, which could lead to a short-term decline or stagnation in FTNT's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Deutsche Bank downgraded General Dynamics from Buy to Hold, maintaining a price target of $320. Shares fell 0.2% to $290.40.
The downgrade from Buy to Hold by Deutsche Bank indicates a neutral stance, which could lead to a short-term decline or stagnation in GD's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Piper Sandler downgraded Charles Schwab from Overweight to Neutral, cutting the price target from $80 to $64. Shares rose 0.5% to $66.60.
The downgrade from Overweight to Neutral and the reduced price target by Piper Sandler suggest a less bullish outlook, which could lead to a short-term decline or stagnation in SCHW's stock price.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 100