© Reuters Today’s Most Important Downgrades
By Davit Kirakosyan
UBS analyst downgraded BlackRock (NYSE:) to Neutral from Buy and lowered its price target to $585.00 from $700.00 based on environmental pressure to earnings and risk from the company’s ESG positioning.
Morgan Stanley downgraded Zoom (NASDAQ:) to Equalweight from Overweight and lowered its price target to $90 from $130. Given the lack of catalysts, the analysts don’t expect to see an improvement in business performance until next year.
Meta Platforms Inc (NASDAQ:) shares fell 4% intra-day today after Atlantic Equities downgraded the company to Neutral from Overweight with a price target of $160. The analysts believe the company’s growth outlook is increasingly challenged given strengthening macro headwinds, rising competition for advertising dollars and easing secular tailwinds in digital advertising.
Bernstein downgraded Bilibili (NASDAQ:) to Underperform from Market Perform and lowered its price target to $9.00 from $16.50. Shares plunged around 7% intra-day today.
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