4 big analyst cuts: Tesla slashed at Barclays after 'too sharp' rally

Investing.com2023-06-21

Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: Downgrades at Tesla, Nike, Coherent, and Match Group. InvestingPro subscribers got this news in rapid fire. ...

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Never be left in the dust again.\nTesla downgraded to Equalweight at Barclays\nBarclays downgraded Tesla (NASDAQ:TSLA) to Equalweight from Overweight while raising its price target to $260.00 from $220.00, noting that the recent sharp run-up in shares is ignoring questions on near-term fundamentals.\nThe firm believes the rally is driven by renewed investor interest in tech stocks and excitement over Tesla opening its Supercharger network to other brands. While moving to the sidelines, the firm still views Tesla as the leading winner among OEMs in the EV race with long-term potential.\nNike downgraded ahead of earnings \nOTR Global downgraded Nike (NYSE:NKE) to Mixed from Positive, as reported in real-time on InvestingPro.\nThe company is set to report its Q4/23 earnings on June 29. Street estimates stand at $0.67 for EPS and $12.56 billion for revenues.\nIn a note to clients yesterday, Morgan Stanley stated that near-term inventory challenges could see the company's 2024 guide potentially below consensus expectations.\n2 more downgrades \n Coherent (NYSE:COHR) shares fell nearly 4% pre-market today after Rosenblatt downgraded the company to Neutral from Buy with a price target of $55.00.\nWhile the firm believes Coherent will benefit from AI when the pods open and Ethernet is more widely deployed starting in H2/24, it is concerned in the near term about further shoes to drop in Networking, primarily due to high Telecom inventories, and Lasers, due to macro and competition.\nWolfe Research downgraded Match Group (NASDAQ:MTCH) to Peerperform from Outperform. Shares fell more than 2% in pre-market today.\nAmid whipsaw markets and a slew of critical headlines, seize on the right timing to protect your profits: Always be the first to know with InvestingPro.\nStart your free 7-day trial now.\nRelated Articles\n4 big analyst cuts: Tesla slashed at Barclays after 'too sharp' rally\nTexas will be first state to require Tesla standard on federally funded EV chargers\nAirbus fills more than 7,000 of 13,000 positions targeted in 2023","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2345229356"}