© Reuters
Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Shopify, ChargePoint, Welltower, and American Axle & Manufacturing.
Unlock the potential of InvestingPro for up to 55% off this Cyber Monday and never miss out on a market winner again.
Shopify slashed to Underweight at Piper Sandler
Shopify (NYSE:) fell more than 2% pre-market today after Piper Sandler downgraded the company to Underweight from Neutral and cut its price target to $56.00 from $58.00, as reported in real-time on InvestingPro.
Shares closed with more than a 5% gain yesterday after the e-commerce group said its merchants had posted an all-time high of $4.1 billion in combined sales on Black Friday.
ChargePoint downgraded at UBS
UBS downgraded ChargePoint (NYSE:) to Neutral from Buy and cut its price target to $2.25 from $9.00.
UBS acknowledged that ChargePoint is a leading player in the U.S. market for Level 2 (L2) charging ports, commanding 44% of the publicly accessible installed base. Despite gaining market share this year, the company’s broad customer base might lead to its revenue being more closely tied to EV deliveries and sales,…
Read the full article here