Markets were crushed to close out the week, with each of the major averages down over 1% so far on the day. The Nasdaq was leading the charge lower with a retreat of over 1.7%, while the Dow Jones industrials and S&P 500 lagged down 1.4% and 1.0%, respectively. This is setting up for another weekly loss, for four out of the past five weeks.

Part of this push lower was the result of poor earnings from Adobe and FedEx. FedEx withdrew its full-year guidance and updated its outlook for the global economy. Essentially, the shipping firm expects a global recession in the months and years to come, although everything does tend to look doom and gloom when your stock is down 23% in a single trading session.

Also, considering the third-quarter earnings reporting season is just a few weeks away, many analysts are souring on what is to come, leading to much more pessimism in the market.

Here, 24/7 Wall St. is reviewing additional analyst calls seen on Friday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Activision Blizzard, Lucid, Netflix, Nordstrom and more.

Adobe Inc. (NASDAQ: ADBE): Barclays downgraded the stock to Equal Weight from Overweight and cut its $440 price target to $340. The BofA Securities downgrade to Neutral from Buy included a price target cut to $350 from $450. Robert Baird also downgraded the shares to Neutral from Outperform, and it lowered its $450 price target to $355. The shares traded near $295 on Friday. The 52-week range is $293.00 to $699.54.

Alcoa Corp. (NYSE: AA): Morgan Stanley raised its Equal Weight rating to Overweight and hiked its price target to $66 from $51. The shares traded near $43 on Friday. The 52-week range is $39.56 to $98.09.

Autodesk Inc. (NASDAQ: ADSK): J.P. Morgan’s downgrade was to Neutral from Overweight, and it cut the $267 price target to $203. Shares have traded as high as $163.20 in the past year but were near $194 on Friday, which is down about 28% year to date.

Baidu Inc. (NASDAQ: BIDU): UBS initiated coverage with a Buy rating. Shares traded near $123 on Friday, in a 52-week range of $101.62 to $182.60.

CrowdStrike Holdings Inc. (NASDAQ: CRWD): MKM Partners started coverage with a Buy rating and a $240 price target. The 52-week trading range is $130.00 to $298.48, and the share price was near $172 on Friday.

FedEx Corp. (NYSE: FDX): J.P. Morgan downgraded the stock to Neutral from Overweight and cut its $258 price target to $214. The BofA Securities downgrade was to Neutral from Buy, and it lowered the price target to $186 from $275. Stifel’s downgrade to Hold from Buy came with a price target cut to $195 from $288. The 52-week trading range is $155.00 to $266.79. Shares changed hands near $157 apiece on Friday.

Infosys Ltd. (NYSE: INFY): The Positive rating at Susquehanna was cut to Neutral, and cut the $29 price target was lowered to $20. The stock was last seen trading near $17, in a 52-week range of $17.17 to $26.39.

InterContinental Hotels Group PLC (NYSE: IHG): Citigroup downgraded it to a Sell rating from Neutral. Shares traded near $54 on Friday, in a 52-week range of $51.28 to $73.40.

International Paper Co. (NYSE: IP): Jefferies downgraded the shares to Underperform from Hold and cut the $40 price target to $31. On Friday, shares traded near $36, within the 52-week range of $35.85 to $56.57.

Snowflake Inc. (NYSE: SNOW): Needham initiated coverage with a Buy rating and a $240 price target. Shares traded near $191 on Friday. The 52-week range is $110.26 to $405.00.

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