This Celanese 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 Celanese Corporation, Harmonic Inc., CEMEX, Tapestry, and Redwire Corporation. These downgrades reflect a more cautious outlook on these stocks.
October 29, 2024 | 2:31 pm
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NEUTRAL IMPACT
B. Riley Securities downgraded Redwire from Buy to Neutral, raising the price target to $9.5.
The downgrade to Neutral with a raised price target presents mixed signals, suggesting a stable short-term outlook for Redwire.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 100
NEUTRAL IMPACT
TD Cowen downgraded Tapestry from Buy to Hold, maintaining a $52 price target.
The downgrade to Hold suggests a neutral outlook for Tapestry, with no immediate impact expected on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Vertical Research downgraded Celanese from Hold to Sell with a $130 price target, indicating a bearish outlook.
The downgrade from Hold to Sell by Vertical Research suggests a negative outlook for Celanese, likely leading to a short-term price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JP Morgan downgraded CEMEX from Overweight to Neutral, lowering the price target to $6.
The downgrade to Neutral and lower price target indicate a more cautious stance on CEMEX, likely impacting its short-term stock performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Raymond James downgraded Harmonic from Strong Buy to Outperform, reducing the price target to $14.
The downgrade and reduced price target suggest a less optimistic view on Harmonic, potentially leading to a short-term price decrease.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100