Please try another search
© Reuters.
Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: Downgrades at Shopify, Activision Blizzard, State Street, and Celanese.
InvestingPro subscribers got these headlines in real time. Start your 7-day free trial.
Shopify (NYSE:SHOP) slipped Tuesday after Evercore ISI downgraded the company to In Line from Outperform with a price target of $69.00.
According to Evercore ISI, "the risk-reward outlook on the stock is less compelling" after a nearly 100% YTD surge in stock price. The analyst said the surge was "well warranted, as it was supported by improved fundamentals, significant cost-saving measures, and a strategic shift away from fully integrated shipping/logistics, but Evercore now sees "few clear catalysts going forward."
Shares were recently down 1.6% to $67.57.
Activision Blizzard (NASDAQ:ATVI) received three downgrades Tuesday, all reported in real time on InvestingPro.
After the company's jump of more than 3% on Monday, driven by growing expectations that the video game maker's $69 billion merger with tech giant Microsoft (NASDAQ:MSFT) is nearing completion, following a series of significant announcements over the weekend, Wells Fargo downgraded the company to Equal Weight from Overweight with a price target of $95.00.
Joining Wells was Atlantic Equities, which downgraded to Neutral from Overweight with a price target of $95.00, and Baird, which cut the stock to Neutral from Outperform with a price target of $90.00.
Shares were off fractionally in recent trading.
State Street (NYSE:STT) shares fell over 2% yesterday following three downgrades. These declines compounded the losses from Friday when the stock experienced a 12% decline due to disappointing Q2 earnings.
UBS downgraded the company to Neutral from Buy with a price target of $72.00 (from $90.00). Keefe, Bruyette & Woods downgraded to Market Perform from Outperform with a price target of $73.00. Meanwhile, JPMorgan downgraded to Underweight from Neutral with a price target of $71.00 (from $78.50).
Celanese (NYSE:CE) shares fell around 1% pre-market today after Deutsche Bank downgraded the company to Hold from Buy with a price target of $125.00 (from $120.00).
Get a leg up on the market: Always be the first to know with InvestingPro.
Start your free 7-day trial now.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Author
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.