🎈 Up Big Today: Find today's biggest gainers (some over 50%!) with our free screenerTry Stock Screener

Today's most important downgrades

Published 2022-12-20, 05:06 p/m
© Reuters.
GIS
-
SAVE
-
YELP
-
SFIX
-

By Davit Kirakosyan

Stitch Fix (NASDAQ:SFIX) shares plunged around 9% today after JPMorgan downgraded to Underweight from Neutral. The analysts recognize investor expectations are low, but they think 2023 could be another tough year as macro potentially becomes an even greater headwind to apparel spend, and remain skeptical on the ability of Freestyle to drive new client acquisition at scale. According to JPMorgan, there is risk active clients and revenue do not return to growth in fiscal 2024.

JPMorgan downgraded Yelp (NYSE:YELP) to Underweight from Neutral and lowered its price target to $23.00 from $34.00. Shares closed around 4% lower today.

CFRA downgraded General Mills (NYSE:GIS) to Sell from Hold and lowered its price target to $74.00 from $80.00. Share plunged more than 4% today despite the company’s reported Q2 beat and raised guidance.

Deutsche Bank downgraded Spirit Airlines (NYSE:SAVE) to Hold from Buy and lowered its price target to $24.00 from $27.00.

Want to get this news first? Upgrade to InvestingPro for real-time market coverage.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.