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Today's most important downgrades

Stock Markets Nov 10, 2022 17:46
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GM
-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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Today's most important downgrades
 

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