All articles tagged with #analyst downgrades
Copper prices surged due to tariffs, boosting mining stocks like Freeport-McMoRan and Southern Copper, but recent analyst downgrades citing macroeconomic concerns and valuation issues have led to declines in their shares, with expectations of falling copper prices and sluggish demand in the near future.
Rivian's stock rebounded in premarket trading after a significant drop last week following the company's quarterly report, which led to downgrades from JPMorgan, UBS, and Truist Securities. The rebound may be due to the sell-off being overdone, with Tesla investor Gary Black defending the company and predicting its potential as a strong competitor to Tesla by 2030. Rivian is set to launch its second-gen R2 low-priced EV soon, and for a reversal, the stock needs to fill the gap formed after the quarterly results and surpass a key resistance around the $15 area. In premarket trading, Rivian rose 1.09% to $10.18.
Palo Alto Networks' stock experienced its worst day on record as analysts expressed concerns over the company's strategic pivot towards platformization, leading to downgrades and lowered price targets. The shift is expected to impact near-term results and raise uncertainties about the company's execution and profitability. While some analysts remain bullish on the long-term potential and see the pivot as a tectonic shift in the cybersecurity market, others worry about the negative impact on the business for the next 12-18 months and the need for evidence that the abrupt pivot will yield acceleration.
Advance Auto Parts reported disappointing Q1 results, with sales growth of 1.3% YoY and earnings of 72 cents per share, missing analyst estimates. The company also reduced its full-year guidance and decided to reduce its quarterly dividend. As a result, several analysts have downgraded the stock and slashed their price targets, with shares dropping 35% and losing 2.4% in pre-market trading.