Today’s most important downgrades By Investing.com

By Davit Kirakosyan

BofA Securities and Scotiabank downgraded Black Hills Corp (NYSE:) following the company’s reported , which resulted in a share price drop of more than 9% today.

Q4 EPS came in at $1.11, worse than the consensus of $1.18, while revenue of $791.4 million came in significantly better than the consensus estimate of $427.6M.

BofA Securities downgraded the stock to Underperform from Neutral and cut its price target to $60.00 from $79.00. Meanwhile, Scotiabank downgraded the company to Sector Perform from Sector Outperform.

Hain Celestial (NASDAQ:) shares plunged more than 10% today after the company was downgraded at JPMorgan and Piper Sandler.

The company reported its yesterday, with EPS of $0.20 coming in better than the consensus estimate of $0.13, while revenue of $454.2M missed the consensus estimate of $459.18M.

Piper Sandler downgraded the stock to Underweight from Neutral and cut its price target to $17.00 from $19.00, noting it sees risks to 2024 estimates from higher spending.

Meanwhile, JPMorgan downgraded the company to Neutral from Overweight and cut its price target to $21.00 from $22.00, citing the stock’s relatively strong performance lately, and the firm’s reduced EBITDA and EPS estimates for 2024 and 2025.

Citi downgraded Lumen Technologies Inc (NYSE:) to Sell from Neutral and cut its price target to $3.50 from $6.25.

Shares plunged more than 20% today following the company’s reported . While both EPS and revenues came in better than the consensus estimates, the company’s 2023 outlook disappointed investors.

DA Davidson downgraded Duck Creek Technologies (DCT) to Neutral from Buy with a price target of $19.00.

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