Wall Street analysts have been making some significant adjustments to their outlooks on several key stocks, leading to a flurry of downgrades this week.
HSBC’s Saul Martinez downgraded American Express Company (AXP) from a Buy to a Hold rating. This move followed a 0.8% drop in American Express shares, closing the day at $273.79.
Keybanc’s John Vinh also issued a downgrade, lowering his rating for QUALCOMM Incorporated (QCOM) from Overweight to Sector Weight. This coincided with a 1.2% dip in Qualcomm shares, ending the day at $166.94.
TD Cowen analyst Robert Moskow slashed the price target for Constellation Brands, Inc. (STZ) from $300 to $270, while also downgrading the rating from Buy to Hold. Constellation shares closed the day down 1.5% at $243.07.
Wolfe Research analyst Nigel Coe downgraded Otis Worldwide Corporation (OTIS) from Outperform to Peer Perform. This resulted in a 0.5% decrease in Otis Worldwide shares, closing at $104.02.
Keybanc analyst John Vinh also lowered his rating for Synaptics Incorporated (SYNA) from Overweight to Sector Weight. This followed a 0.4% drop in Synaptics shares, ending the day at $76.06.
These downgrades highlight the fluctuating nature of the market and the constant reassessment of individual company performances by Wall Street analysts.
