Wall Street analysts are constantly releasing and updating reports on stocks across their respective coverage universes. These calls, whether positive or negative, play into the overall perception of the stock and can easily influence investors, especially if the broker making the call is a big name like Goldman Sachs.
While these analysts may differ in terms of their approach or analytics, their bottom line tends to this: a stock is going up, going down or just keeping pace with the market.
Every day, 24/7 Wall St. reviews top analysts’ research from the major brokerage firms and investment houses, and we compile the best and most prominent upgrades and downgrades. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Here are a few stocks that we think Wall Street hated the most in this past week.
Fresenius Medical Care AG & Co. (NYSE: FMS): Jefferies downgraded the stock to Underperform from Neutral and trimmed the price target to $30.30 from $32.40 on Monday. The consensus target is up at $38.00, and the shares were trading shy of $34 in Friday’s premarket. The Jefferies price target implied 7% downside from Monday’s closing price of $32.61.
JPMorgan Chase & Co. (NYSE: JPM): Jefferies lowered its Buy rating on the money center and investment giant to Hold and slashed the $180 target price to $155 on Monday. The consensus target is $174.58. Over the past year, the stock has traded between $139.57 and $172.96, and it was trading near $152.20 early Friday. The Jefferies price target implied upside of less than 2% from Monday’s closing price of $152.49.
Gap Inc. (NYSE: GPS): BofA Securities downgraded the popular retailer to Underperform from Neutral and dropped the price target to $14 from $26 on Tuesday. The consensus target is $21.84. The stock was last trading near $14.60. The new price target implied downside of nearly 10% from Tuesday’s closing price of $15.49.
Beyond Meat Inc. (NASDAQ: BYND): Goldman Sachs slashed its $74 price target on the Sell-rated shares to $47 on Thursday. The consensus target is $68.63. The shares were last seen around $56.70 Friday morning, in a 52-week range of $53.10 to $169.76. The Goldman Sachs price target implied downside of 16% from Thursday’s closing price of $56.21.
Also see which four stocks Wall Street loved most this week.
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