Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at EPAM Systems, Las Vegas Sands, Solid Power, and Carrier Global.
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EPAM receives its sixth downgrade this week
Morgan Stanley downgraded EPAM Systems (NYSE:EPAM) to Equalweight from Overweight and cut its price target to $220.00 from $350.00, as InvestingPro reported in real time. Shares fell more than 1% pre-market today.
This is an addition to a series of five downgrades received this week after the company lowered its Q2/23 and full-year guidance due to further deterioration in the near-term demand environment, which resulted in a share price drop of more than 21% on Monday.
Las Vegas Sands downgraded to Hold
Las Vegas Sands (NYSE:LVS) shares fell more than 1% pre-market today after Jefferies downgraded the company to Hold from Buy and cut its price target to $65.00 from $69.00.
The firm believes the bull and bear cases are approximately balanced within the shares at present levels, and absent near-term catalysts, it expects the shares to remain range-bound.
2 more downgrades
Wolfe Research downgraded Solid Power (NASDAQ:SLDP) from Peerperform to Underperform with a price target of $2.00.
Morgan Stanley downgraded Carrier Global (NYSE:CARR) to Equalweight from Overweight and lowered its price target to $47.00 from $49.00. Shares are down more than 1% pre-market today.
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