Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Today's most important downgrades

Published 2023-02-08, 06:20 p/m
Updated 2023-02-08, 06:20 p/m
© Reuters.

© Reuters.

By Davit Kirakosyan

BofA Securities and Scotiabank (TSX:BNS) downgraded Black Hills Corp (NYSE:BKH) following the company’s reported Q4 earnings, which resulted in a share price drop of more than 9% today.

Q4 EPS came in at $1.11, worse than the consensus of $1.18, while revenue of $791.4 million came in significantly better than the consensus estimate of $427.6M.

BofA Securities downgraded the stock to Underperform from Neutral and cut its price target to $60.00 from $79.00. Meanwhile, Scotiabank downgraded the company to Sector Perform from Sector Outperform.

Hain Celestial (NASDAQ:HAIN) shares plunged more than 10% today after the company was downgraded at JPMorgan and Piper Sandler.

The company reported its Q2 results yesterday, with EPS of $0.20 coming in better than the consensus estimate of $0.13, while revenue of $454.2M missed the consensus estimate of $459.18M.

Piper Sandler downgraded the stock to Underweight from Neutral and cut its price target to $17.00 from $19.00, noting it sees risks to 2024 estimates from higher spending.

Meanwhile, JPMorgan downgraded the company to Neutral from Overweight and cut its price target to $21.00 from $22.00, citing the stock’s relatively strong performance lately, and the firm's reduced EBITDA and EPS estimates for 2024 and 2025.

Citi downgraded Lumen Technologies Inc (NYSE:LUMN) to Sell from Neutral and cut its price target to $3.50 from $6.25.

Shares plunged more than 20% today following the company’s reported Q4 results. While both EPS and revenues came in better than the consensus estimates, the company’s 2023 outlook disappointed investors.

DA Davidson downgraded Duck Creek Technologies (DCT) to Neutral from Buy with a price target of $19.00.

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.