© Reuters.
Here’s your pro roundup of the biggest analyst cuts you may have missed since yesterday: downgrades at Tesla, Equinix, Celanese, and Planet Fitness.
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Tesla gets another discount
Morgan Stanley downgraded Tesla (NASDAQ:) to Equalweight from Overweight with a $250.00 price target (from $200.00), marking the third downgrade this month.
Analysts, who have been one of the most vocal Tesla bulls on the street in recent years, are now stepping aside after a massive rally in Tesla shares (up 111% YTD vs. of 14% in the ) pushed the valuation to “fair.” ” levels.
Acknowledging Tesla’s stock surge due to the ongoing AI frenzy on Wall Street, analysts declared the company “an AI beneficiary AND a car company.”
Equinix cuts to act in Oppenheimer
Oppenheimer downgraded Equinix (NASDAQ:) to Performance from Exceed following the company’s Analyst Day, as reported in real time on investpro. Shares fell more than 2% yesterday.
The firm said its rating change is due to concerns about valuation and guidance that it missed expectations. According to Oppenheimer, investors were anticipating confirmation that AI would drive significant growth; however, management tempered expectations by saying it is too early to make accurate forecasts while warning that capital and operating expenses would remain high.
2 more discounts
BofA values lowered celanese (NYSE:) to neutral Buy and lowered his price target to $116.00 from $123.00, signaling that he sees further weakness in acetyls.
Exane BNP Paribas downgrades Planet Fitness (NYSE:) to Underperform of Neutral. Shares are down more than 1% before trading today.
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