Today's Most Important Downgrades
- Wall Street ends sharply higher after Powell comments
- S&P 500 to re-test lows in H1 and then rally to 4200 on Fed pivot signal - JPMorgan
- Fed's Powell: Rate hikes to slow, but adjustment just beginning
- Dollar slumps on Powell's comments; Yen benefits the most
- European stocks higher; Powell speech, German retail sales in focus
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Wells Fargo downgraded Lumen (NYSE: LUMN) to Equal Weight from Overweight and lowered its price target to $8 from $12.50, noting it sees increasing risks to the dividend in the near term. Shares were down 9% intra-day today.
Atlantic Equities downgraded Goldman Sachs (NYSE: GS) to Underweight from Neutral with a price target of $290 (from $330) and Morgan Stanley (NYSE: MS) to Neutral from Overweight with a price target of $85 (from $95). The analysts mentioned three factors for the downgrade: (1) declining investment banking activity, (2) falling equity markets, and (3) concern that trading estimates remain too optimistic.
Credit Suisse downgraded Janus Henderson Group (NYSE: JHG) to Underperform from Neutral with a price target of $19.00.
Vertical Group downgraded Twitter, Inc. (NYSE: TWTR) to Hold from Buy.
By Davit Kirakosyan
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Create E-mail Alert Related CategoriesDowngrades, Hot List
Related EntitiesCredit Suisse, Goldman Sachs, Morgan Stanley, Twitter, Henderson Group, Wells Fargo
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