This Okta Analyst Turns Bearish; Here Are Top 5 Downgrades For Thursday
Portfolio Pulse from Avi Kapoor
Several top Wall Street analysts have downgraded their ratings for major companies, including Equinor ASA, Bancolombia S.A., CAVA Group, Inc., Okta, Inc., and comScore, Inc. These downgrades reflect changes in price targets and market outlooks.

August 29, 2024 | 12:57 pm
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NEUTRAL IMPACT
Morgan Stanley downgraded CAVA Group, Inc. from Overweight to Equal-Weight but raised the price target from $90 to $110. Shares closed at $118.44.
Despite the downgrade, the raised price target suggests a mixed outlook, likely resulting in neutral short-term price movement.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
B of A Securities downgraded Bancolombia S.A. from Neutral to Underperform, lowering the price target from $38 to $34. Shares closed at $33.12.
The downgrade to Underperform and reduced price target indicate a negative outlook, likely causing a short-term price drop.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Morgan Stanley downgraded Equinor ASA from Equal-Weight to Underweight, lowering the price target from $30.5 to $25.8. Shares closed at $27.10.
The downgrade from Equal-Weight to Underweight and the reduced price target suggest a bearish outlook, likely leading to a short-term price decline.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
B of A Securities downgraded Okta, Inc. from Buy to Underperform, cutting the price target from $135 to $75. Shares closed at $96.54.
The downgrade to Underperform and significant cut in price target indicate a bearish outlook, likely leading to a short-term price decline.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Craig-Hallum downgraded comScore, Inc. from Buy to Hold, lowering the price target from $18 to $8. Shares closed at $6.71.
The downgrade to Hold and reduced price target suggest a negative outlook, likely causing a short-term price drop.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85