© Reuters. Today’s Most Important Downgrades
By Davit Kirakosyan
Morgan Stanley downgraded Ally Financial (NYSE:) to Equalweight from Overweight and lowered its price target to $28.00 from $40.00 to reflect more clouded visibility. The company’s shares plunged almost 8% on Wednesday following a Q3 earnings miss.
Roth Capital downgraded Generac Holdings (NYSE:) to Sell from Buy and lowered its price target to $75.00 from $320.00. The company lowered its full-year sales growth guidance, resulting in a share price drop of 25% on Wednesday.
BofA Securities downgraded Fleetcor Technologies Inc (NYSE:) to Neutral from Buy and lowered its price target to $203.00 from $278.00. While the analysts have a favorable view of the company’s business and capital deployment, they believe sentiment and the upside potential is likely to be capped for the near term given a weakening economy and company-specific headwinds.
Piper Sandler downgraded Coupa Software (NASDAQ:) to Underweight from Neutral with a price target of $55.00.
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