Wall Street analysts are making waves, with a series of downgrades hitting several prominent stocks. This news comes at a time when the broader market is experiencing a positive upswing, with the Dow and S&P 500 posting their best weekly performance of the year. So, what’s behind this shift in sentiment?
Guggenheim analyst John Difucci downgraded
Smartsheet Inc. (SMAR)
from Buy to Neutral, sending shares closing at $56.02 on Friday. Similarly, JMP Securities analyst Constantine Davides lowered the rating forAgilon Health, Inc. (AGL)
from Market Outperform to Market Perform, with shares ending the week at $1.84.BMO Capital analyst John McNulty wasn’t holding back either, downgrading
Celanese Corporation (CE)
from Market Perform to Underperform. He also reduced the price target from $138 to $76, with Celanese shares closing at $84.80 on Friday.Seaport Global analyst Kenneth Zener issued a downgrade for
NVR, Inc. (NVR)
, moving the rating from Buy to Neutral. NVR shares closed at a hefty $9,306.94 on Friday.Rounding out the list of downgrades, Raymond James analyst James Rollyson lowered the rating for
Tidewater Inc. (TDW)
from Strong Buy to Outperform, also slashing the price target from $131 to $102. Tidewater shares finished the week at $56.07.These analyst actions highlight the dynamic nature of the stock market, where even during periods of positive performance, certain companies can face headwinds. Investors should carefully consider these downgrades and weigh them against their own investment strategies. For a deeper dive into the reasoning behind these analyst actions, and to see the full picture of current analyst ratings, you can visit our Analyst Ratings page.
