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Today’s most important downgrades:
Deutsche Bank downgraded Boston Beer Company (NYSE:SAM) from Hold to Sell with a price target of $316. The analyst commented, “Net-net, we are expecting Truly sales to decline -LSDs in 2023 (roughly in-line with category growth) on increasing competitive intensity both within the core hard seltzer category and adjacencies (i.e., growing share of spirits-based and wine-based RTD).”
GLJ Research analyst Gordon Johnson downgraded First Solar (NASDAQ:FSLR) from Buy to Sell, PT $46.80, saying it is priced for perfection into a very imperfect environment.
Deutsche Bank downgraded Kimberly Clark (NYSE:KMB) from Hold to Sell with a price target of $123, saying see the operating environment turning increasingly challenging for the company.
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