© Reuters. Today’s most important downgrades
By Davit Kirakosyan
Oppenheimer downgraded Tesla (NASDAQ:) to Perform from Outperform, noting it believes increasing negative sentiment on Twitter could linger long term, limiting its financial performance and becoming an ongoing overhang on Tesla.
Vertex (NASDAQ:) shares fell more than 4% today after Jefferies downgraded the company to Hold from Buy with a price target of $340.00. While noting that the company’s fundamentals are still very good and the pipeline attractive, the analysts see risk/reward in their sum-of-the-parts valuation as mostly balanced with the significant outperformance and $80 billion valuation.
MoffettNathanson downgraded AT&T (NYSE:) to Underperform from Market Perform with a price target of $17.00, noting that after a dramatic bounce, AT&T once again looks overvalued. Shares plunged more than 3% today.
BofA Securities downgraded American Electric Power (NASDAQ:) to Neutral from Buy and lowered its price target to $98.00 from $101.00.
Stifel downgraded Waste Management (NYSE:) to Hold from Buy and lowered its price target to $171.00 from $185.00. Shares closed more than 2% lower today.
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