4 big analyst cuts: CommScope lacking near-term positive catalysts, says Deutsche
Investing.com | Author Davit Kirakosyan
Published Jul 19, 2023 05:39AM ET
Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at CommScope, The Trade Desk, Lumentum, and Global-E Online.
InvestingPro.
New Street Research downgraded the stock to Sell from Neutral with a price target of $69.00 (from $57.00) amid an increased level of competition for economics with agencies and sell-side platforms (SSPs).
Meanwhile, Redburn initiated coverage on the company with a Sell rating and a price target of $34.00.
We think consensus expectations and market valuations are too high. We worry that evidence of the former will lead to compression in the latter and launch with a Sell rating.
2 more analyst cuts/h2
BofA Securities downgraded Lumentum (NASDAQ:LITE) to Underperform from Neutral with a price target of $50.00.
Morgan Stanley downgraded Global-E Online (NASDAQ:GLBE) to Equalweight from Overweight with a price target of $45.00 (from $38.00).
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Written By: Investing.com
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