Today's most important downgrades By Investing.com

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Today's most important downgrades

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GPS

+2.09%

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-1.45%

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ALLY

+2.95%

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PLTR

+2.81%

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COIN

+3.58%

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By Davit Kirakosyan

Coinbase Global Inc. (NASDAQ:COIN) shares plunged more than 11% today after Cowen downgraded the company to Market Perform from Outperform with a price target of $36.00. The firm mentioned two key drivers behind the downgrade: (1) low visibility per stabilization in retail trading volumes in 2023, and (2) elevated potential for SEC enforcement action.

BofA Securities downgraded Ally Financial (NYSE:ALLY) to Underperform from Buy and cut its price target to $26.00 from $35.00, noting that macro factors are having an outsized impact on fundamentals, which are likely to get worse before they get better.

Gap Inc (NYSE:GPS) shares fell more than 3% today after UBS downgraded the company to Sell from Neutral and lowered its price target to $7.00 from $12.00. The firm believes the macro backdrop is going to be weak over the next twelve months and this will amplify the issue the company faces from ongoing share loss.

Jefferies downgraded Palantir Technologies (NYSE:PLTR) to Hold from Buy with a price target of $7.50. Shares plunged nearly 4% today.

Wells Fargo downgraded Delek US (NYSE:DK) to Underweight from Overweight and cut its price target to $24.00 from $40.00.

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Nifty 50	17,080.70	+129.00	+0.76%
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Nifty Bank	39,910.15	+342.25	+0.86%
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US 500	4,028.5	+57.2	+1.44%
FTSE 100	7,564.27	+80.02	+1.07%
Dollar Index	102.323	+0.217	+0.21%

Gold	1,981.90	-8.50	-0.43%
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Brent Oil	77.42	-0.72	-0.92%
Natural Gas	2.183	+0.036	+1.68%
Silver	23.457	+0.037	+0.16%
MCX Copper	785.65	-2.45	-0.31%
MCX Cotton	61,620	+400	+0.65%

SBI	516.95	+8.85	+1.74%
NTPC	175.10	+3.10	+1.80%
ICICI Bank	855.00	+0.25	+0.03%
Reliance Industries	2,242.20	-5.80	-0.26%
DLF	352.80	+4.15	+1.19%
Tata Motors	409.95	+8.35	+2.08%
Tata Steel Ltd	103.70	+1.20	+1.17%

USD/INR	82.260	+0.083	+0.10%
EUR/USD	1.0841	-0.0002	-0.02%
GBP/USD	1.2315	-0.0024	-0.20%
USD/JPY	132.87	+2.01	+1.53%
GBP/INR	101.240	-0.144	-0.14%
EUR/INR	89.1190	+0.0200	+0.02%
USD/CAD	1.3563	-0.0036	-0.26%

Today's most important downgrades

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