© Reuters. Today’s most important downgrades
By Davit Kirakosyan
Silvergate Capital (NYSE:) shares plunged more than 8% today after Morgan Stanley downgraded the company to Underweight from Equal-weight with a price target of $24.00, noting it has given up any near-term hope for the company in the wake of the FTX collapse. The analysts expect the company’s digital deposits to fall 60% quarter-over-quarter in Q4.
Loop Capital downgraded NetApp (NASDAQ:) to Hold from Buy and lowered its price target to $67.00 from $100.00. Shares were down more than 2% today.
JPMorgan downgraded Imperial Oil Limited (NYSE:) to Underweight from Neutral. Shares plunged more than 4% today.
BofA Securities downgraded Liberty Global (NASDAQ:) to Neutral from Buy and cut its price target to $23.60 from $33.30.
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