Tag Archives: Downgrades

This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: RBC Capital’s Lori Calvasina became the latest strategist to raise her 2024 price target for the S&P 500 on Monday, lifting her forecast to 5,150 from 5,000. But by raising expectations for the benchmark index this year, Calvasina actually offered a more tempered outlook for stocks than what her team set forth in November 2023. “When we introduced our 5,000 target back in… Source link

Analysts at Bank of America downgraded shares of Coinbase (COIN) on Friday as the fallout from FTX’s stunning implosion continues to ripple through crypto markets. Shares of Coinbase were down as much as 5.5% in early trading on Friday. “We think Coinbase (COIN) likely faces a number of new headwinds over the near/medium-term due to the recent collapse of rival crypto exchange FTX,” analysts led by Jason Kupferberg wrote in a note to clients. They added: “As a result, we downgrade COIN to… Source link

(Bloomberg) — Citigroup Inc. strategists cut their recommendation on US stocks to neutral on the risk of a recession, joining an increasing number of banks in warning of a growth slowdown. Most Read from Bloomberg The market is showing “elements of a deflating bubble” with high uncertainty and the lack of reassurance from the Federal Reserve, strategists including Dirk Willer wrote in a May 27 note. “Given that it will likely take time for the Fed to react to equity and growth weakness,… Source link

By Josh Beckerman Fitch Ratings has downgraded 10 Russian companies including Rostelecom and Yandex NV to “CC,” as a March 5 presidential decree and escalating sanctions “could impose insurmountable barriers” on timely debt payments to certain international creditors. The decree “could force a redenomination of foreign-currency debt into local currency for international creditors, which we would likely view as a distressed debt exchange or event of default,” Fitch… Source link

TipRanks Buy These 2 New Stocks Before They Jump Over 80%, Says JPMorgan In the past week, investors have had to cope with multiple conflicting signals from the markets. The April jobs report, which was expected to show almost 1 million new positions for the month, showed only 266,000. The official unemployment number ticked upward slightly to 6.1%, and hourly wages also gained – by 0.7%. That last would seem to be a positive – except that, combined with the massive government stimulus… Source link