Super Micro Computer Inc. (SMCI) stock plummeted after JP Morgan analyst Samik Chatterjee downgraded the rating from Overweight to Neutral and lowered its price target. The analyst cited the company’s delayed 10-K filing and lack of visibility on its return to compliance as major concerns, leading to a near-term negative outlook on the company’s financial performance.
Amphenol Corporation, a leading provider of electronic and fiber optic connectors, saw its stock downgraded by B of A Securities due to concerns about potential design changes in NVIDIA’s GB200-based AI systems. These changes could negatively impact Amphenol’s AI revenue opportunities, leading to a significant reduction in content and potential difficulties in achieving its EPS targets for 2025/2026.
Telsey Advisory Group downgraded Urban Outfitters (URBN) to Market Perform, citing slowing sales trends and concerns about earnings risk. Despite strong second-quarter results, the company experienced a slight slowdown in retail sales in July and August, leading to a lowered price target. However, the analyst remains optimistic about the company’s overall growth prospects.
Peapack-Gladstone Financial Corp. (NASDAQ: PGC) shares experienced a significant decline of 7.8% during Wednesday’s trading session. This substantial drop followed a downgrade from Piper Sandler, which changed its rating on the regional bank to Neutral from Overweight. The downgrade was prompted by worse-than-expected first-quarter results and concerns about the company’s overall financial outlook.
