This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEC0D0AP_M.jpgInvestingPro subscribers got this news in rapid fire. Never be left in the dust again.
Alcoa (NYSE:AA) shares fell more than 3% pre-market today after Morgan Stanley downgraded the company to Underweight from Equalweight and cut its price target to $33.00 from $43.00, as reported in real time on InvestingPro.
The firm sees a significant decline in consensus estimates, and as negative earnings revisions materialize, it believes the stock will face downward pressure and underperform.
The analyst’s estimates for EBITDA in Q2, 2023, and 2024 are substantially lower than the consensus. The stock is currently trading above its historical average. The firm said its downward revisions in earnings estimates and price target are attributed to the company’s high operating leverage to aluminum prices.
Piper Sandler downgraded DigitalOcean (NYSE:DOCN) to Underweight from Neutral with a price target of $35.00. As a result, shares plunged more than 5% pre-market today.
The company reported its Q1 earnings last month, with revenue beating the consensus estimate, while EPS coming in worse than expected. Furthermore, the company provided a strong outlook, which was above the Street estimates.
Teleflex (NYSE:TFX) shares fell more than 3% yesterday after Needham downgraded the company to Hold from Buy, noting that UroLift expectations may still be too high.
According to Needham, their checks indicate that urologists are reducing their use of UroLift due to its retreatment rates, reimbursement cuts, and increasing use of competing procedures. This is also supported by their Google Trends data analysis, which indicates decreasing search interest in UroLift.
BMO Capital downgraded Xcel Energy (NASDAQ:XEL) to Market Perform from Outperform and cut its price target to $64.00 from $69.00 to reflect the lower-than-expected terms of the company’s regulatory settlement in Colorado.
Amid whipsaw markets and a slew of critical headlines, seize on the right timing to protect your profits: Always be the first to know with InvestingPro.
Start your free 7-day trial now.
