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Deutsche Bank downgraded Frontline (NYSE:FRO) to Hold from Buy with a price target of $17.00, as reported in real time on InvestingPro.
Yesterday, the company reported its Q2 results, with EPS of $0.94 and revenue of $512.8 million coming in significantly above the consensus estimates.
According to the bank, they cut the rating on Frontline as shares are now trading at a slight premium to their price target of $17.
Digital Realty Trust (NYSE:DLR) shares fell more than 1% premarket today after Deutsche Bank downgraded the company to Hold from Buy with a price target of $131.00 (from $112.00).
The rating change was due purely to a lack of upside potential to its new price target. The bank clarified that its outlook on Data Center Real Estate Investment Trust (REIT) fundamentals remains optimistic. This is due to a strong demand environment, bolstered by the growth of cloud and AI/ML.
This demand surge has now matched with tightening supply and power constraints in key markets, leading to substantial improvements in industry pricing. These positive shifts in pricing have been lacking over much of the last decade, and the bank anticipates them to continue in the foreseeable future.
RBC Capital downgraded FactSet Research Systems (NYSE:FDS) to Sector Perform from Outperform and cut its price target to $464.00 from $500.00.
Raymond James downgraded Crestwood Equity Partners (NYSE:CEQP) to Market Perform from Outperform with a price target of $30.00.
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