This Dollar General Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday (CORRECTED)
Portfolio Pulse from Avi Kapoor
Several top Wall Street analysts have downgraded their ratings for major companies, including Elastic N.V., Dollar General, Kohl's, EnLink Midstream, and Baozun. These downgrades reflect changes in price targets and market outlooks.
August 30, 2024 | 12:53 pm
News sentiment analysis
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NEGATIVE IMPACT
Gordon Haskett downgraded Dollar General from Buy to Hold with a $90 price target. Shares fell 32.2% to $84.03.
The downgrade to Hold and a price target below the current price, combined with a significant share price drop, indicates negative sentiment and potential further declines.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
B of A Securities downgraded Elastic N.V. from Buy to Neutral, lowering the price target from $140 to $94. Shares closed at $103.64.
The downgrade from Buy to Neutral and a significant reduction in the price target suggests a less optimistic outlook, likely leading to short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
CLSA downgraded Baozun from Outperform to Hold, cutting the price target from $2.8 to $2.2. Shares gained 4.5% to $2.32.
The downgrade and reduced price target suggest caution, but the share price increase indicates a neutral short-term impact, as market sentiment may still be positive.
CONFIDENCE 75
IMPORTANCE 55
RELEVANCE 65
NEUTRAL IMPACT
Stifel downgraded EnLink Midstream from Buy to Hold, maintaining a $15 price target. Shares gained 9.4% to $14.40.
Despite the downgrade, the maintained price target and significant share price gain suggest a neutral short-term impact, as market sentiment may still be positive.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 70
NEUTRAL IMPACT
TD Cowen downgraded Kohl's from Buy to Hold, lowering the price target from $25 to $21. Shares rose 0.6% to $19.77.
The downgrade and reduced price target suggest caution, but the slight share price increase indicates mixed market reactions, leading to a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 75