Wall Street analysts have been busy adjusting their outlooks on several major companies, with a flurry of downgrades impacting some well-known names.
Morgan Stanley analyst Dara Mohsenian downgraded PepsiCo, Inc. (PEP) from Overweight to Equal-Weight, citing concerns about the company’s future prospects. The price target for PEP was also lowered to $185, and the shares fell 0.3% to close at $174.66 on Thursday.
Bernstein analyst Danilo Gargiulo also expressed a less optimistic view of Darden Restaurants, Inc. (DRI), downgrading it from Outperform to Market Perform. The analyst lowered the price target from $190 to $180. Despite the downgrade, Darden shares climbed 8.3% to close at $172.27 on Thursday.
JMP Securities analyst Silvan Tuerkcan downgraded Notable Labs, Ltd. (NTBL) from Market Outperform to Market Perform. This change in rating reflects concerns about the company’s future performance. Despite the downgrade, Notable Labs shares gained 5.5% to close at $0.4780 on Thursday.
RBC Capital analyst Matthew Hedberg downgraded Rapid7, Inc. (RPD) from Outperform to Sector Perform, lowering the price target from $50 to $40. The downgrade suggests a more cautious outlook on Rapid7’s future performance. The shares, however, closed up 1.5% at $34.35 on Thursday.
Finally, Morgan Stanley analyst Ravi Shanker downgraded FedEx Corporation (FDX) from Equal-Weight to Underweight, slashing the price target from $215 to $200. This significant downgrade reflects concerns about FedEx’s ability to navigate the current market conditions. However, the shares closed up 0.7% at $300.39 on Thursday.
These downgrades highlight the dynamic nature of the stock market and the constant evaluation of companies’ performance by Wall Street analysts. Investors should be aware of these changes and consider them when making investment decisions.
