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5 big analyst cuts: Agilent slashed on Q2 print; shares plunge on guidance miss

Published 2023-05-24, 06:34 a/m
Updated 2023-05-24, 06:34 a/m
© Reuters.

© Reuters.

Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades for Agilent, Integra LifeSciences, Shopify, SiteOne Landscape Supply, and Textron.

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Agilent downgraded following Q2 earnings

KeyBanc downgraded lab-equipment maker Agilent Technologies (NYSE:A) to Sector Weight from Overweight. The rating change is due to a recovery needed in margins and a lack of revenue catalysts in the back half of the year.

Shares dropped more than 9% pre-market today following Q2 earnings. While Q2 EPS and revenues came in better than expected, guidance missed the consensus estimates.

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Integra LifeSciences downgraded to Underweight, stock plunges on product recall

JPMorgan downgraded Integra LifeSciences (NASDAQ:IART) to Underweight from Neutral and cut its price target to $43.00 from $56.00, as InvestingPro reported in real time.

Shares plunged more than 20% yesterday and are trading 2% lower pre-market today after the company announced a voluntary global recall of all its products manufactured in its Boston, Massachusetts facility between March 1, 2018, and May 22, 2023.

The company said previous full-year revenue and adjusted EPS guidance will be negatively affected by approximately $60 million and $0.35, respectively.

3 more downgrades

Exane BNP Paribas downgraded Shopify (NYSE:SHOP) to Underperform from Neutral.

Siteone Landscape Supply (NYSE:SITE) shares fell nearly 2% pre-market today after Barclays downgraded the company to Underweight from Equalweight and cut its price target to $144.00 from $146.00.

Vertical Research Partners downgraded Textron (NYSE:TXT) to Hold from Buy.

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