Wall Street analysts are constantly evaluating companies and adjusting their recommendations. This week, several high-profile analysts have made notable changes to their ratings on some top companies.
DA Davidson’s Gil Luria downgraded Microsoft Corporation (MSFT) from a Buy to Neutral rating. Luria also set a price target of $475 for MSFT shares. This news came as Microsoft shares closed at $435.27 on Friday, down 0.8%.
Meanwhile, Bernstein analyst Daniel Roeska downgraded General Motors Company (GM) from Outperform to Market Perform, setting a price target of $53. Despite the downgrade, GM shares ended the week up 0.5% at $48.88.
Piper Sandler analyst Clarke Jeffries downgraded GoDaddy Inc. (GDDY) from Overweight to Neutral, but surprisingly raised the price target from $160 to $172. GoDaddy shares closed the day at $160.55, up 0.3%.
TD Cowen analyst Oliver Chen downgraded Ulta Beauty, Inc. (ULTA) from Buy to Hold, setting a price target of $395. Ulta Beauty shares ended the week down 0.3% at $402.01.
Finally, Raymond James analyst Patrick O’Shaughnessy downgraded S&P Global (SPGI) from Outperform to Market Perform. S&P Global shares closed the day at $523.67, down 0.1%.
These changes in analyst ratings offer valuable insights into the current market sentiment and potential future performance of these companies. It’s important to note that these ratings are just one factor to consider when making investment decisions.
