Today's Most Important Downgrades

Morgan Stanley downgraded Ally Financial (NYSE: ALLY) to Equalweight from Overweight and lowered its price target to $28.00 from $40.00 to reflect more clouded visibility. The company’s shares plunged almost 8% on Wednesday following a Q3 earnings miss.

Roth Capital downgraded Generac Holdings (NYSE: GNRC) to Sell from Buy and lowered its price target to $75.00 from $320.00. The company lowered its full-year sales growth guidance, resulting in a share price drop of 25% on Wednesday.

BofA Securities downgraded FleetCor Technologies (NYSE: FLT) to Neutral from Buy and lowered its price target to $203.00 from $278.00. While the analysts have a favorable view of the company’s business and capital deployment, they believe sentiment and the upside potential is likely to be capped for the near term given a weakening economy and company-specific headwinds.

Piper Sandler downgraded Coupa Software (NASDAQ: COUP) to Underweight from Neutral with a price target of $55.00.

By Davit Kirakosyan

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