This Tractor Supply Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Thursday
Portfolio Pulse from Avi Kapoor
Several Wall Street analysts have downgraded their ratings for key stocks, including Verrica Pharmaceuticals, Tractor Supply Company, New Fortress Energy, Wolfspeed, and Blue Bird Corporation. These downgrades have led to varied stock price movements.
October 03, 2024 | 1:08 pm
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NEUTRAL IMPACT
Roth MKM downgraded Blue Bird Corporation from Buy to Neutral, maintaining a $48 price target. The stock fell 0.2% to $45.99.
The downgrade to Neutral and slight decrease in stock price suggest a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 80
NEUTRAL IMPACT
Evercore ISI downgraded Tractor Supply from Outperform to In-Line, maintaining a $300 price target. The stock gained 1% to $298.07.
Despite the downgrade, the stock price increased slightly, suggesting a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 85
NEUTRAL IMPACT
Mizuho downgraded Wolfspeed from Neutral to Underperform, lowering the price target from $17 to $8. The stock gained 2.9% to $9.15.
Despite the downgrade and reduced price target, the stock price increased, indicating a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Morgan Stanley downgraded New Fortress Energy from Overweight to Equal-Weight, lowering the price target from $35 to $15. The stock fell 7.6% to $8.94.
The downgrade and significant reduction in price target, along with a 7.6% drop in stock price, suggest a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Needham downgraded Verrica Pharmaceuticals from Buy to Hold, maintaining a $12 price target. The stock fell 19% to $1.11.
The downgrade from Buy to Hold by Needham, coupled with a significant 19% drop in stock price, indicates a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90