This Lululemon Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have downgraded several major stocks, including Atlassian Corporation, Lululemon Athletica, Intel Corporation, Intercontinental Exchange, and Procore Technologies. These downgrades have led to notable declines in their share prices.

August 02, 2024 | 12:15 pm
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NEGATIVE IMPACT
Deutsche Bank analyst Brian Bedell downgraded Intercontinental Exchange from Buy to Hold, cutting the price target from $155 to $152. Shares fell 0.4% to $151.00.
The downgrade from Buy to Hold and a slight reduction in the price target suggest a more cautious outlook, likely leading to minor short-term price pressure.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
B of A Securities analyst Vivek Arya downgraded Intel Corporation from Neutral to Underperform, slashing the price target from $35 to $23. Shares fell 5.5% to $29.05.
The downgrade to Underperform and a significant cut in the price target indicate a very bearish outlook, likely leading to substantial short-term price declines.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Goldman Sachs analyst Brooke Roach downgraded Lululemon Athletica from Buy to Neutral, cutting the price target from $463 to $286. Shares fell 3.7% to $249.05.
The downgrade from Buy to Neutral and a substantial reduction in the price target suggest a more cautious stance, likely leading to short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
DA Davidson analyst Gil Luria downgraded Procore Technologies from Buy to Neutral, lowering the price target from $90 to $60. Shares fell 5.4% to $67.22.
The downgrade from Buy to Neutral and a significant reduction in the price target indicate a less optimistic outlook, likely leading to short-term price pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Baird analyst Rob Oliver downgraded Atlassian Corporation from Outperform to Neutral, cutting the price target from $230 to $175. Shares fell 1.9% to $173.24.
The downgrade from Outperform to Neutral and a significant cut in the price target indicate a less optimistic outlook, likely leading to short-term price pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100