UPDATE: JPMorgan Downgrades Diebold (DBD) to Underweight
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JPM Re-Positions, Downgrades Diebold Nixdorf, Plexus Corp and Cognex Corporation
August 15, 2022 4:25 PM EDTDiebold Nixdorf (NYSE: DBD), Plexus Corp (NASDAQ: PLXS), and Cognex Corp (NASDAQ: CGNX) were downgraded to Underweight by JPMorgan analyst Paul Chung in a research note on Monday.
The analyst downgraded the stocks as they position following second-quarter earnings prints. Chung said the season has seen more misses and guidance cuts than usual, driven by logistics headwinds and FX. However, they are more concerned with inventory pauses at key customers and cracks in demand trends.... More
