© Reuters. Today’s most important downgrades
By Davit Kirakosyan
Wells Fargo downgraded ONE Gas Inc. (NYSE:) to Equal Weight from Overweight and lowered its price target to $80.00 from $89.00. Shares plunged more than 17% today following the company’s issued 2023 financial guidance.
BofA Securities downgraded Saia Inc. (NASDAQ:) to Underperform from Neutral and cut its price target to $215.00 from $216.00 as demand deteriorates faster than expected. Shares fell more than 2% today after the company provided Q4 LTL operating data.
Goldman Sachs downgraded PagSeguro Digital Ltd (NYSE:) to Sell from Neutral and cut its price target to $9.00 from $15.00 following weaker-than-expected . Shares were down more than 7% today.
Wolfe Research downgraded CrowdStrike Holdings (NASDAQ:) to Peerperform from Outperform following the underwhelming with a miss on net new ARR in the quarter, and guidance for Q4 and fiscal 2024 ARR and FCF coming in below expectations. While management stated that the weakness is purely a macro issue, the analysts said their industry conversations are leading to more questions around the competitive environment as well as the overall demand environment.
Morgan Stanley downgraded Ally Financial (NYSE:) to Underweight from Equalweight and cut its price target to $19.00 from $28.00. Shares plunged nearly 4% today.
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