Category: downgrade

UBS Downgrades Salesforce.com to Neutral; Slashes Price Target by 16 Percent

January 6, 2022
Business & EconomyCompaniesdowngradeeconomyMarketsneutralSalesforceUBS
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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…

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Read Why Wolfe Research Downgraded Charter, Altice USA

January 4, 2022
AlticeBusiness & EconomyCharterCompaniesdowngradeeconomyMarketsresearchwolfe
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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…

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Analysis: Was Barclays’ Disney Downgrade a Bad Call?

October 19, 2021
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…

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Fitch Lowers Evergrande Rating on Likely Missed Interest Payment

September 29, 2021
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…

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Evergrande Suspends Bond Trading After Latest Downgrade

September 16, 2021
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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