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5 analyst cuts: JD.com cut to Hold, stock surges on subsidiaries’ IPOs | Pro Recap

Published 03/31/2023, 05:52 AM
Updated 03/31/2023, 08:11 AM
© Reuters

By Davit Kirakosyan

Investing.com -- Here is your daily Pro Recap of the biggest analyst cuts you may have missed since yesterday.

JD.com downgraded to hold, shares surge on subsidiaries filing for IPOs

Loop Capital downgraded JD.com (NASDAQ:JD) to Hold from Buy and cut its price target to $49.00 from $82.00.

Shares closed more than 7% higher yesterday after the company said it intends to spin off JD Property by way of a separate listing of the JD Property Shares on the Main Board of the Hong Kong Stock Exchange.

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Cintas downgraded at Jefferies

Jefferies downgraded Cintas (NASDAQ:CTAS) to Hold from Buy and cut its price target to $487.00 from $512.00.

The company reported its Q3 earnings this week, with both EPS and revenues beating the consensus estimates, and provided strong guidance. As a result, shares surged nearly 5% on Wednesday.

3 more downgrades

Wells Fargo downgraded Park Hotels & Resorts (NYSE:PK) to Equal Weight from Overweight and cut its price target to $12.50 from $17.00.

Argus downgraded Hormel Foods (NYSE:HRL) to Hold from Buy.

Maxim Group downgraded Cutera (NASDAQ:CUTR) to Hold from Buy.

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