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 on Wall Street.
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.
Beyond Meat Inc. (NASDAQ: BYND): Goldman Sachs cut its price target on the plant-based food stock to $40 from $47 while keeping a Sell rating on Tuesday. The consensus target is $50.40. The stock was trading near $43 on Friday, in a 52-week range of $40.30 to $160.28. The new price target implied downside of about 5% from the closing price of $42.31 prior to the call.
Empire State Realty Trust Inc. (NASDAQ: ESRT): BMO Capital Markets downgraded the shares to Underperform from Market Perform and cut the $8 target price to $11 on Tuesday. The consensus target is up at $10.00, and the shares were trading near $9.50 Friday morning. The BMO price target implied 12% downside from the $9.06 closing price prior to the call.
Gap Inc. (NYSE: GPS): Daiwa Securities downgraded it to Underperform from Neutral and had a $13.75 price target on Wednesday. The shares traded near $14 Friday morning, in a 52-week range of $13.12 to $37.63. The new price target implied downside of 4% from the closing price of $14.38 prior to the call.
DXC Technology Co. (NYSE: DXC): BofA Securities downgraded the shares to Underperform from Buy and slashed the $45 target price to $30 on Thursday. The stock has a 52-week range of $25.80 to $44.18 and was trading around $30 on Friday morning. The BofA price target implied 1% downside from the prior closing price of $30.11.
Bluebird Bio Inc. (NASDAQ: BLUE): Barclays downgraded the shares from Equal Weight to Underweight with a $4 target on Tuesday. Also, Goldman Sachs maintained a Sell rating and cut the price target to $3 from $9 on Wednesday. The consensus target is $10.09. Over the past year, the stock has traded between $4.16 and $23.05, and it was trading near $4.50 early Friday. The Goldman Sachs price target implied 38% downside from the closing price of $4.84 before the call.
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