Wall Street analysts have been making some significant changes to their outlooks on several top-performing companies. This week, several analysts downgraded their ratings and price targets for these companies, indicating a shift in sentiment from investors.
HSBC analyst Charlene Liu downgraded Baidu, Inc. (BIDU) from a Buy to a Hold rating, setting a price target of $100. This move comes after Baidu shares gained 2.4% to close at $88.28 on Monday.
Redburn Atlantic analyst Peter Low downgraded BP p.l.c. (BP) from a Buy to a Neutral rating. BP shares gained 0.7% to close at $32.86 on Monday.
Baird analyst Eric Coldwell downgraded McKesson Corporation (MCK) from Outperform to Neutral, lowering the price target from $603 to $531. McKesson shares fell 0.6% to close at $505.00 on Monday.
Leerink Partners analyst Andrew Berens downgraded Regeneron Pharmaceuticals, Inc. (REGN) from Outperform to Market Perform, cutting the price target from $1,175 to $1,077. Regeneron Pharmaceuticals shares fell 4.6% to close at $1,091.98 on Monday.
Wedbush analyst David Chiaverini downgraded First Horizon Corporation (FHN) from Outperform to Neutral, slashing the price target from $20 to $17. First Horizon shares fell 1.9% to close at $15.67 on Monday.
These downgrades and price target reductions suggest a shift in sentiment from analysts toward these companies, potentially indicating a more cautious outlook on their future performance. Investors considering these stocks should carefully review the rationale behind these changes and consult with their financial advisors before making any investment decisions.
