This Etsy Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Thursday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have downgraded several notable stocks, including Voya Financial, Etsy, Bunge Global, Host Hotels & Resorts, and Public Storage. These downgrades have led to varying impacts on the stock prices of these companies.
August 01, 2024 | 12:33 pm
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NEUTRAL IMPACT
Oppenheimer downgraded Etsy from Outperform to Perform. Despite the downgrade, shares gained 1% to settle at $65.14.
The downgrade may have a neutral short-term impact as the stock price increased despite the analyst's change in rating.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Citigroup downgraded Bunge Global from Buy to Neutral and cut the price target from $125 to $114. Shares fell 8.1% to $105.23.
The significant downgrade and price target cut from Citigroup have led to a sharp decline in Bunge Global's stock price, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Compass Point downgraded Host Hotels & Resorts from Buy to Neutral and lowered the price target from $25 to $18. Shares fell 1.6% to $17.51.
The downgrade and significant reduction in price target are likely to negatively affect Host Hotels & Resorts' stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Truist Securities downgraded Public Storage from Buy to Hold, maintaining the price target of $306. Shares fell 2.8% to $295.92.
The downgrade from Buy to Hold, despite maintaining the price target, has led to a decline in Public Storage's stock price, indicating a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley downgraded Voya Financial from Overweight to Equal-Weight and cut the price target from $79 to $76. Shares fell 2.1% to $72.73.
The downgrade from a major firm like Morgan Stanley and the reduction in price target are likely to negatively impact investor sentiment and short-term stock performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100