By Davit Kirakosyan
JPMorgan downgraded Dillard's Inc. (NYSE:DDS) to Underweight from Neutral and cut its price target to $286.00 from $345.00.
The firm sees constrained top-line growth with few levers to buck declining mall traffic trends pressuring gross profit margin and driving potential erosion on a smaller sales base with deleverage on expenses.
Shares plunged 17% today after the company reported its Q4 results, with EPS beat but worse-than-expected revenues.
DocuSign Inc (NASDAQ:DOCU) shares fell more than 7% today after UBS downgraded the company to Sell from Neutral with a price target of $52.00. The firm highlighted a +54% move in shares since the December lows, which makes the valuation too expensive.
CFRA downgraded Dana Holding (NYSE:DAN) to Sell from Hold and cut its price target to $14.00 from $16.00.
Shares plummeted more than 17% today after the company reported a Q4 EPS miss and a significant bottom-line miss on its fiscal 2023 guidance.
UBS downgraded Logitech International (NASDAQ:LOGI) to Neutral from Buy after it did various industry analysis and expert calls and concluded the environment for the company is getting incrementally tougher.
Shares closed more than 5% lower today.
AutoNation Inc. (NYSE:AN) shares fell nearly 9% today after JPMorgan downgraded the company to Underweight from Neutral with a price target of $130.00 (from $125.00).
After continued strength in 2023 for the franchise auto dealership sector, the firm believes the industry will likely take a breather in the near term.
According to the firm, recent capital deployment will have little accretion in the near term for AutoNation, investments are expected to increase, buybacks are likely to take a step back, and move to more M&A, and related execution credibility will take time to establish.
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