5 Stocks That Wall Street Hates This Week

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 be this: a stock is going up, going down or just keeping pace with the market.

Every weekday, 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.

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Celanese Corp. (NYSE: CE | CE Price Prediction): Piper Sandler lowered its Neutral rating to Underweight and slashed the target price to $140 from $180 on Wednesday. The consensus target is up at $187.85, and the shares were trading near $140 on Friday morning. The Piper Sandler price target implied 3% downside from Tuesday’s closing price of $144.07.

Rackspace Technology Inc. (NASDAQ: RXT): BMO Capital Markets downgraded the shares to Market Perform from Outperform and slashed the $18 price target to $10.50. Deutsche Bank cut the stock from Buy to Hold with a $9 target price. The consensus target is $15.28. Over the past year, the stock has traded between $7.28 and $26.43, and it was trading near $11 early Friday. The Deutsche Bank price target implied downside 17% from Tuesday’s closing price of $10.85.

Star Bulk Carriers Corp. (NASDAQ: SBLK): Pareto downgraded the shares from Buy to Hold with a $30 price target. The 52-week trading range is $12.74 to $32.00, and the consensus target is $35.11. The shares were last seen around $30 Friday morning. The Pareto price target implied downside of 4% from Tuesday’s closing price of $31.31.

NOV Inc. (NYSE: NOV): Goldman Sachs downgraded the shares from Hold to Sell with a $16 target price. The consensus target is $16.05, and shares were trading around $17 on Friday morning. The stock has a 52-week range of $11.46 to $18.02. The Goldman Sachs price target implied 7% downside from Wednesday’s closing price of $17.17.

NetApp Inc. (NASDAQ: NTAP): Goldman Sachs dropped its price objective to $72 from $84 and kept a Sell rating on the stock. The consensus target is $98.11. The stock was last trading near $80 on Friday, in a 52-week range of $58.83 to $96.82. The new price target implied downside of nearly 9% from Thursday’s closing price of $79.29.

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