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© Reuters.
By Davit Kirakosyan
Investing.com -- Here is your daily Pro Recap of the biggest analyst cuts you may have missed since yesterday.
Morgan Stanley downgraded Charles Schwab (NYSE:SCHW) to Equalweight from Overweight and cut its price target to $68.00 from $99.00. As a result, shares fell nearly 2% pre-market today.
The company also saw price target cuts at Citi yesterday and JPMorgan last week.
As always, InvestingPro subscribers got this news first. Start your free 7-day trial to get on board.
Morgan Stanley downgraded Southern Copper (NYSE:SCCO) to Equalweight from Overweight with a price target of $70.00, noting it now sees a more balanced risk-reward following the stock's outperformance over the last three, six, and 12 months.
According to the firm, now the stock more adequately reflects the company's strong cash generation and consistent returns to shareholders.
Morgan Stanley downgraded Nexa Resources (NYSE:NEXA) to Underweight from Overweight and cut its price target to $5.60 from $6.00.
Given the company's latest guidance, Morgan Stanley's commodities team's new metal price forecasts, and new BRL/PEN assumptions, the firm reduced its 2023 and 2024 EBITDA estimates by approximately 40% and 5%, respectively.
Wells Fargo downgraded Xenia Hotels & Resorts (NYSE:XHR) to Equal Weight from Overweight and cut its price target of $13.00 from $18.00.
The company reported its Q4 results earlier this month, beating consensus estimates on EPS and revenues.
BofA Securities downgraded Ermenegildo Zegna (NYSE:ZGN) to Neutral from Buy while raising its price target to $13.50 from $13.00.
Evercore ISI downgraded Atreca (NASDAQ:BCEL) to In Line from Outperform and cut its price target to $1.50 from $2.00 following the company's reported Q4 earnings and ATRC-101 update yesterday.
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