This Hershey Analyst Turns Bearish; Here Are Top 5 Downgrades For Tuesday
Portfolio Pulse from Avi Kapoor
Several top Wall Street analysts have downgraded their ratings for major companies, including Cinemark Holdings, The Hershey Company, Northrop Grumman Corporation, PDD Holdings, and Cyclo Therapeutics. These downgrades reflect changes in price targets and market outlooks.

August 27, 2024 | 1:00 pm
News sentiment analysis
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NEGATIVE IMPACT
Citigroup downgraded The Hershey Company from Neutral to Sell, reducing the price target from $195 to $182. Shares slightly rose to $196.41.
The downgrade to Sell and reduced price target indicate a bearish outlook, likely leading to downward pressure on the stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Citigroup downgraded PDD Holdings from Buy to Neutral, slashing the price target from $194 to $120. Shares fell 28.5% to $100.00.
The significant downgrade and drastic price target cut reflect a negative outlook, contributing to a sharp decline in the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
NEUTRAL IMPACT
B. Riley Securities downgraded Cinemark Holdings from Buy to Neutral, maintaining a price target of $31. Shares closed at $28.17, up 1.3%.
The downgrade from Buy to Neutral suggests a less optimistic outlook, but the maintained price target indicates no expected significant downside. The stock's slight gain suggests limited immediate impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Maxim Group downgraded Cyclo Therapeutics from Buy to Hold. Shares rose 6.1% to $0.8277.
The downgrade to Hold suggests a neutral stance, but the stock's rise indicates that the market may have already priced in the news or other factors are at play.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Alembic Global downgraded Northrop Grumman from Overweight to Neutral with a price target of $560. Shares closed at $512.00, up 0.5%.
The downgrade to Neutral suggests a more cautious outlook, but the price target remains above the current price, indicating potential for stability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80