Today's most important downgrades

Baird downgraded Boot Barn (NYSE: BOOT) to Neutral from Outperform with a price target of $86.00, noting that the company’s Q3 report last week highlighted continued solid execution, while disproving fears about "over-earning."

Still, with the stock up 38% year-to-date, the firm is tempering its bullish view of the company's long-term potential given its more cautious sector-wide outlook.

Shares fell more than 2% today.

Piper Sandler downgraded Edwards Lifesciences (NYSE: EW) to Neutral from Overweight and cut its price target to $80.00 from $95.00. The downgrade was based on three factors, including the firm's proprietary doc survey, Piper Sandler believing the U.S. TAVR market is becoming increasingly competitive, and the fact they see a less-than-ideal stock set-up behind what it views as lofty 2023 guidance.

Shares were down more than 2% today.

CFRA downgraded Baidu (NASDAQ: BIDU) to Sell from Hold while raising its price target to $103.00 from $95.00.

Vertical Research Partners downgraded Eastman Chemical (NYSE: EMN) to Hold from Buy after the company reported a Q4 miss on Thursday.

Azek Co. (NYSE: AZEK) shares fell more than 2% today after BofA Securities downgraded the company to Neutral from Buy.

By Davit Kirakosyan

Want this type of news in real-time as it happens? Upgrade to StreetInsider.com Premium Here

You May Also Be Interested In

• Blackstone (BX) to Acquire Tropical Smoothie Cafe
• Can Boeing overcome struggles? Analysts see 'path back to normal' after earnings
• Can Boeing overcome struggles? Analysts see 'path back to normal' after earnings