UBS analyst Karl Keirstead downgraded Salesforce.com Inc. to Neutral from Buy with a price target of $265, down from $315. The price target implies an upside of 6.7 percent. After speaking to large enterprise IT executives and services partners of Salesforce, the analyst is concerned that more “front-office/sales and marketing” technology spend was pulled forward in 2020 and 2021…
UBS Downgrades Salesforce.com to Neutral; Slashes Price Target by 16 Percent
Read Why Wolfe Research Downgraded Charter, Altice USA
Wolfe Research analyst John Janedis downgraded Charter Communications Inc. and Altice USA Inc.. Janedis downgraded Charter to Underperform from Peer Perform with a price target of $621, down from $712, implying a 4.8 percent downside. Janedis downgraded Altice to Peer Perform from Outperform with a price target of $17, down from $26, implying a 5.1 percent upside. Janedis sees cable operators continue…
Analysis: Was Barclays’ Disney Downgrade a Bad Call?
October 19, 2021
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BarclaysBusiness & EconomyCompaniesdowngradeEqual-WeightKannan VenkateshwarMarket WatchMarketsOverweightWalt Disney Co
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News that Barclays analyst Kannan Venkateshwar downgraded Walt Disney Co. from Overweight to Equal-Weight with a price target of $175, down from $210, caught many investors by surprise and caused the stock to sink by 3 percent in Monday’s trading. What Happened Venkateshwar said this downgrade was justified based on a perceived slowing of the…
Fitch Lowers Evergrande Rating on Likely Missed Interest Payment
September 29, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesdowngradeEconomiesevergrandeFitchInternationalWorld
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Rating agency Fitch has downgraded cash-strapped Chinese property giant Evergrande from CC, or a very high level of credit risk, to C, or near default. Fitch said in a Sept. 28 rating action announcement it had downgraded both Evergrande and its subsidiaries Hengda and Tianji, due to a likely missed bond coupon payment. “The downgrades reflect…
Evergrande Suspends Bond Trading After Latest Downgrade
September 16, 2021
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Asia & PacificbondsBusiness & EconomyChinaChina Business & EconomyCompaniesdowngradeEconomiesevergrandeMarketsWorld
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Cash-strapped Chinese developer Evergrande Group has applied for a suspension of trade of its onshore corporate bonds on Sept. 16, following a ratings downgrade a day earlier. Hengda Real Estate Group, the property service provider and a subsidiary of Evergrande, found on Wednesday that its bonds’ ratings had been downgraded from AA to “A.” According…
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