© Reuters. Today’s Downgrades of Note
By Davit Kirakosyan
Today, several brokerages downgraded the shares of four companies, including Lyft (NASDAQ:), Core Laboratories (NYSE:), Diana Shipping (NYSE:), and Anheuser Busch Inbev (NYSE:). Below, we provided the details for each downgrade:
UBS downgraded Lyft to Neutral from Buy and lowered its price target to $16.00 from $50.00. The analysts model 2024 adjusted EBITDA of $671 million, below the company’s $1 billion EBITDA target and the consensus estimate of $868 million. The analysts view the Q4 consensus revenue estimate of $1.168 billion as too high (UBS est. $1.135 billion), and model contribution margins of 54% (vs. the consensus estimate of 56%).
Morgan Stanley downgraded Core Laboratories to Underweight from Equalweight with a price target of $20.00.
Jefferies downgraded Diana Shipping to Hold from Buy and lowered its price target to $5.00 from $7.00.
Jefferies downgraded Anheuser-Busch InBev to Hold from Buy and lowered its price target to $54.00 from $68.00.
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