© Reuters Today’s Important Price Target Changes
By Davit Kirakosyan
CLSA lowered the price target on Alibaba (NYSE:) to $158.00 from $180.00 while maintaining its Buy rating.
BMO Capital lowered the price target on PPG Industries (NYSE:) to $122.00 from $143.00 while maintaining an Outperform rating. The analysts lowered their 2022/2023 estimates following the company’s announced update yesterday, expecting Q3 EPS to come in below the low end of its guidance range.
Macquarie raised the price target on JD.com, Inc (NASDAQ:) to $93.00 from $90.00 while maintaining its Outperform rating.
Bernstein raised the price target on Rio Tinto (NYSE:) to $64.50 from $64.00 while reiterating its Market Perform rating.
Morgan Stanley lowered the price target on Carvana Co (NYSE:) to $68.00 from $75.00 while maintaining an Equalweight rating after previewing Q3. Following the company’s weak Q2 results and continue Manheim weakness, the analysts lowered their estimates to allow for continued weakness in the retail and wholesale used car market.
Bernstein lowered the price target on Barrick Gold Corp. (NYSE:) to $15.00 from $18.00 while reiterating its Market Perform rating.
Morgan Stanley lowered the price target on Yum China Holdings (NYSE:) to $140.00 from $142.00 while maintaining an Overweight rating. The company’s shares fell more than 7% lower today.
Bernstein lowered the price target on Vale SA ADR (NYSE:) to $18.65 from $18.95 while maintaining a Market Perform rating.
Stifel lowered the price target on Xylem (NYSE:) to $103.00 from $105.00 while maintaining its Buy rating.
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