This Boeing Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday
Portfolio Pulse from Avi Kapoor
Several top Wall Street analysts have downgraded their ratings for major companies, including Boeing, Qorvo, Lear Corporation, Newmont Corporation, and Graphic Packaging Holding Company. These downgrades reflect a more cautious outlook on these stocks.
October 30, 2024 | 5:54 pm
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NEGATIVE IMPACT
Bernstein downgraded Boeing from Outperform to Market Perform, lowering the price target from $195 to $169. Boeing shares closed at $152.98.
The downgrade from a reputable analyst and a significant reduction in the price target suggest a bearish short-term outlook for Boeing. The stock is likely to face downward pressure.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Truist Securities downgraded Graphic Packaging from Buy to Hold, lowering the price target from $32 to $30. Graphic Packaging shares closed at $28.66.
The downgrade and slight reduction in price target suggest a neutral outlook for Graphic Packaging, potentially leading to short-term price stability or slight declines.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Barclays downgraded Lear Corporation from Overweight to Equal-Weight, reducing the price target from $140 to $120. Lear shares closed at $99.58.
The downgrade and reduced price target suggest a neutral to bearish outlook for Lear, potentially leading to short-term price weakness.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
UBS downgraded Newmont Corporation from Buy to Neutral, slashing the price target from $67 to $54. Newmont shares closed at $47.80.
The downgrade and significant price target reduction indicate a cautious outlook for Newmont, likely resulting in short-term price pressure.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Exane BNP Paribas downgraded Qorvo from Outperform to Neutral, setting a price target of $80. Qorvo shares closed at $100.48.
The downgrade and lower price target indicate a less optimistic view on Qorvo's performance, likely leading to short-term price declines.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100