Today's most important downgrades By Investing.com

Tech, megacaps drag Wall St to lower close as big market week kicks off

Today's most important downgrades

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-4.37%

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VERU

-5.59%

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TTGT

-3.05%

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RDFN

-0.82%

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By Davit Kirakosyan

Wolfe Research downgraded General Motors (NYSE:GM) to Peerperform from Outperform, noting it sees a limited near-term upside. While the analysts continue to see the potential for significant upside for GM over the intermediate term, they have become less convinced that an Outperform rating is appropriate into an increasingly challenging macro environment.

Jefferies downgraded Veru, Inc. (NASDAQ:VERU) to Underperform from Buy with a price target of $10.00. Shares plunged more than 50% today after the company announced FDA AdCom voted 8-5 against sabizabulin.

Compass Point downgraded Redfin Corp. (NASDAQ:RDFN) to Sell from Neutral with a price target of $2.25. Shares gained more than 31% today despite a Q3 miss and weak guidance announcement. Investors mostly ignored the results and focused instead on the company’s announcement to close its RedfinNow iBuying business to cut costs. As a result, it will lay off 862 workers or 13% of its staff.

Deutsche Bank downgraded TechTarget (NASDAQ:TTGT) to Hold from Buy with a price target of $45.00 (from $85.00) after the company reported disappointing Q3 results and forward guidance. As a result, shares fell around 10% today.

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S&P/TSX	20,572.11	-142.37	-0.69%
S&P/TSX 60	1,239.60	-8.00	-0.64%
US 30	33,693.1	-24.0	-0.07%
US 500	4,014.5	-3.3	-0.08%
S&P 500 VIX	19.94	+1.43	+7.73%
DAX	15,126.08	-23.95	-0.16%
Dollar Index	102.140	+0.054	+0.05%

Crude Oil WTI	77.58	-0.32	-0.41%
Brent Oil	84.19	-0.31	-0.37%
Natural Gas	2.684	0.000	0.00%
Gold	1,919.70	-3.20	-0.17%
Silver	23.668	-0.065	-0.27%
US Soybeans	1,533.25	-0.25	-0.02%
US Cotton #2	85.72	+0.61	+0.72%

Bombardier Inc	62.740	-0.480	-0.76%
Enbridge	40.53	-0.31	-0.76%
Air Canada	22.36	-0.43	-1.89%
Ovintiv	21.70	-0.39	-1.77%
Apple	143.00	-2.93	-2.01%
Alibaba ADR	111.20	-7.18	-6.07%
Twitter Inc	53.70	+0.00	+0.00%

Canada 5Y	3.056	+0.018	+0.61%
Canada 10Y	2.931	+0.018	+0.64%
Canada 30Y	2.971	+0.018	+0.59%
U.S. 2Y	4.2402	-0.0210	-0.49%
U.S. 10Y	3.540	-0.011	-0.30%
U.S. 30Y	3.655	-0.005	-0.13%
Germany 10Y	2.3035	-0.0025	-0.11%

Today's most important downgrades

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