All articles tagged with #price target cuts
Telecom stocks have received price-target cuts due to analyst concerns over Amazon's potential entry into the mobile market. The analyst cited "nerves" over the impact Amazon could have on the industry, leading to a decrease in price targets for several telecom companies.
Advance Auto Parts reported disappointing Q1 results, with sales growth of 1.3% YoY and earnings of 72 cents per share, missing analyst estimates. The company also reduced its full-year guidance and decided to reduce its quarterly dividend. As a result, several analysts have downgraded the stock and slashed their price targets, with shares dropping 35% and losing 2.4% in pre-market trading.
Tyson Foods reported a loss for Q2 and lowered its FY23 financial outlook, causing analysts to cut their price targets on the stock. Barclays, B of A Securities, and Goldman Sachs all lowered their price targets, while Bernstein maintained an Outperform rating but lowered its price target. Tyson Foods' shares dropped 16.4% but added 0.4% in pre-market trading.