© Reuters. Today’s most important downgrades
By Davit Kirakosyan
Stifel downgraded CrowdStrike Holdings (NASDAQ:) to Hold from Buy and lowered its price target to $120.00 from $225.00. The company’s shares plunged more than 14% today following the .
BofA downgraded Carvana Co (NYSE:) to Neutral from Buy and reduced its price target to $10.00 from $43.00, noting that now it believes that without a cash infusion, the company is likely to run out of cash by the end of 2023. Despite the downgrade, the company’s shares closed more than 4% higher today.
Piper Sandler downgraded Nutrien (NYSE:) to Neutral from Overweight and lowered its price target to $93.00 from $115.00 on the company’s , reduction in 2022 guidance and its own revised look at potash markets for 2023 and beyond.
BofA Securities downgraded Southwest Gas (NYSE:) to Neutral from Buy and lowered its price target to $65.00 from $87.00.
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