This American Express Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday
Portfolio Pulse from Avi Kapoor
Several top Wall Street analysts have downgraded their ratings for key companies, including Sonoco Products, Iteris, American Express, Triumph Group, and Aadi Bioscience. These downgrades reflect a shift in analyst sentiment and have impacted the stock prices of these companies.
August 21, 2024 | 1:45 pm
News sentiment analysis
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NEUTRAL IMPACT
TD Cowen downgraded Aadi Bioscience from Buy to Hold. Despite the downgrade, shares gained 3.9% to $1.62.
Although downgraded, Aadi Bioscience shares rose, suggesting the market may have anticipated the downgrade, resulting in a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 100
NEUTRAL IMPACT
B. Riley Securities downgraded Iteris from Buy to Neutral, cutting the price target from $8 to $7.2. Iteris shares gained 0.4% to $7.06.
Despite the downgrade, Iteris shares gained slightly, indicating a neutral short-term impact as the market may have already priced in the downgrade.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
B of A Securities downgraded American Express from Buy to Neutral, maintaining the price target at $263. Shares fell 0.4% to $253.08.
The downgrade to Neutral suggests a less optimistic view, likely causing a short-term decline in American Express's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Wells Fargo downgraded Sonoco Products from Equal-Weight to Underweight, lowering the price target from $54 to $52. Sonoco shares fell 0.5% to $50.57.
The downgrade by Wells Fargo and the reduction in price target suggest a negative outlook, likely leading to a short-term decline in Sonoco's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Truist Securities downgraded Triumph Group from Buy to Hold, reducing the price target from $17 to $15. Shares fell 1.9% to $13.41.
The downgrade and reduced price target indicate a negative outlook, likely leading to a short-term decline in Triumph Group's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100