© Reuters Today’s Most Important Downgrades
By Davit Kirakosyan
CFRA downgraded General Motors (NYSE:) to Sell from Hold and lowered its price target to $32.00 from $36.00. Shares were up more than 3% today following the company’s reported Q3 beat.
RBC Capital downgraded Health Catalyst Inc. (NASDAQ:) to Sector Perform from Outperform and lowered its price target to $9.00 from $19.00. While the analysts remain positive on the long-term structural tailwinds and the company’s competitive position in the market, they mentioned that Q2 guidance and commentary point to slower near-term revenue growth with little visibility on timing of reacceleration and a potentially longer path to sustainable profitability.
Credit Suisse downgraded Arista Networks (NYSE:) to Neutral from Outperform and lowered its price target to $110 from $185, noting that investor and industry expectations are high while data center industry dynamics are challenged heading into 2023.
CFRA downgraded PACCAR (NASDAQ:) to Buy from Strong Buy and raised its price target to $108.00 from $103.00. The company reported its today, with both EPS and revenues coming in better than the consensus estimates.
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