Today's most important downgrades

Wells Fargo downgraded ONE Gas Inc. (NYSE: OGS) to Equal Weight from Overweight and lowered its price target to $80.00 from $89.00. Shares plunged more than 17% today following the company’s issued 2023 financial guidance.

BofA Securities downgraded Saia Inc. (NASDAQ: SAIA) to Underperform from Neutral and cut its price target to $215.00 from $216.00 as demand deteriorates faster than expected. Shares fell more than 2% today after the company provided Q4 LTL operating data.

Goldman Sachs downgraded PagSeguro (NYSE: PAGS) to Sell from Neutral and cut its price target to $9.00 from $15.00 following weaker-than-expected Q3/22 results. Shares were down more than 7% today.

Wolfe Research downgraded CrowdStrike Holdings (NASDAQ: CRWD) to Peerperform from Outperform following the underwhelming Q3/23 results with a miss on net new ARR in the quarter, and guidance for Q4 and fiscal 2024 ARR and FCF coming in below expectations. While management stated that the weakness is purely a macro issue, the analysts said their industry conversations are leading to more questions around the competitive environment as well as the overall demand environment.

Morgan Stanley downgraded Ally Financial (NYSE: ALLY) to Underweight from Equalweight and cut its price target to $19.00 from $28.00. Shares plunged nearly 4% today.

By Davit Kirakosyan

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