© Reuters
By Davit Kirakosyan
Investing.com — Right here is your each day Professional Recap of the most important analyst downgrades you’ll have missed since yesterday.
Marathon Petroleum downgraded at JPMorgan
JPMorgan downgraded Marathon Petroleum (NYSE:) to Impartial from Chubby this morning whereas additionally elevating its worth goal to $149.00 from $137.00.
Whereas the agency believes Marathon Petroleum is executing effectively and has continued potential to aggressively return capital, even in a refining downturn, it now sees barely below-average upside potential to its worth goal relative to the group common, and due to this fact downgrade the inventory.
Shares have been almost even in premarket buying and selling after a 3.3% acquire yesterday.
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Frontier Communications downgraded, shares plunge
Morgan Stanley downgraded Frontier Communications (NASDAQ:) to Underweight from Equalweight and minimize its worth goal to $19.00 from $23.00 primarily based on the corporate’s premium to telecommunications friends, rising dangers to Fiber development targets as a result of growing competitors, and up to date plans for a slower Fiber growth doubtlessly delaying constructive free money stream technology.
Shares plunged almost 9% yesterday and have been not too long ago buying and selling greater than 2% decrease within the premarket.
Seagate minimize to Promote
Edgewater Analysis downgraded Seagate Know-how (NASDAQ:) to Promote from Impartial this morning.
Shares have been off 2.8% within the premarket.
Dish Community downgraded to Impartial
UBS downgraded Dish Community (NASDAQ:) to Impartial from Purchase and minimize its worth goal to $10.00 from $27.00.
The agency is extra cautious on Dish shares forward of its funding wants in 2024, with sub losses persevering with, wi-fi dilution ramping, and wi-fi M&A much less possible within the close to time period.
Shares closed down 1.7% yesterday.
2 extra downgrades
Piper Sandler downgraded Jounce Therapeutics (NASDAQ:) to Impartial from Chubby with a worth goal of $1.85 following the announcement yesterday that the corporate will probably be acquired by Concentra Biosciences for $1.85 per share.
Truist Securities downgraded Momentive World (NASDAQ:) to Maintain from Purchase.
