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By Davit Kirakosyan
Morgan Stanley downgraded DocuSign Inc (NASDAQ:DOCU) to Underweight from Equalweight and lowered its price target to $47.00 from $73.00. While productivity challenges and leadership turnover are already reflected in the company’s shares, which are down 64% year-to-date, the analysts see several other headwinds, including Intensifying competition, e-signature commoditization, and pricing pressure.
Argus downgraded Nike (NYSE:NKE) to Hold from Buy.
Stephens downgraded CarMax (NYSE:KMX) to Equal Weight from Overweight and lowered its price target to $64.00 from $104.00, noting that used vehicle demand trends have been softening, and the update last week was largely in-line with their expectations. However, the analysts mentioned that the expense backdrop is higher than anticipated, and with minimal expected improvement in the near term, it is difficult to see an upside to near-term numbers even after the steep reset.
BofA Securities downgraded Livent Corp. (NYSE:LTHM) to Underperform from Neutral and lowered its price target to $27.00 from $31.00.
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