This Netflix Analyst Turns Bearish; Here Are Top 5 Downgrades For Monday
Portfolio Pulse from Avi Kapoor
Several top Wall Street analysts have downgraded their ratings for major companies, including Netflix, Hershey, Celanese, Constellation Brands, and Charles River Laboratories. These downgrades may impact the short-term stock performance of these companies.
October 07, 2024 | 12:03 pm
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NEUTRAL IMPACT
Keybanc downgraded Celanese from Overweight to Sector Weight. Celanese shares rose 2.1% to $136.67.
The downgrade to Sector Weight suggests a neutral outlook, which may not significantly impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Evercore ISI downgraded Charles River Labs from Outperform to In-Line, reducing the price target from $225 to $190. Shares gained 0.6% to $190.74.
The downgrade and reduced price target indicate a neutral outlook, which could lead to a short-term price decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Bernstein downgraded Hershey from Outperform to Market Perform and lowered the price target from $230 to $205. Hershey shares gained 0.5% to $191.84.
The downgrade and reduced price target indicate a less optimistic view, potentially leading to a short-term price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Barclays downgraded Netflix from Equal-Weight to Underweight, maintaining a price target of $550. Despite the downgrade, Netflix shares rose 1.8% to $719.70.
The downgrade to Underweight suggests a bearish outlook, which could lead to a short-term price decline despite the recent share price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
B of A Securities downgraded Constellation Brands from Buy to Neutral, cutting the price target from $300 to $255. Shares rose 1.2% to $246.67.
The downgrade and reduced price target suggest a less favorable outlook, potentially leading to a short-term price decline.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100