These are some analysts stock upgrades and downgrades on Monday June 12, 2023:
AutoZone (AZO) was upgraded to “buy” from “hold” at Loop Capital Markets, which cited the company’s strong earnings and revenue growth. The stock was also given a price target of $2,000, which is 10% above its current price. Loop Capital Markets analyst Simeon Gutman cited the company’s strong earnings and revenue growth, as well as its continued focus on operational excellence. He also noted that AutoZone is well-positioned to benefit from the ongoing shift to e-commerce.
Walgreens Boots Alliance (WBA) was downgraded to “neutral” from “overweight” at Morgan Stanley, which cited concerns about the company’s slowing growth. The stock was also given a price target of $35, which is 10% below its current price. Morgan Stanley analyst Katy Huberty cited concerns about the company’s slowing growth, as well as its exposure to generic competition. She also noted that Walgreens is facing challenges in its retail pharmacy business.
Johnson & Johnson (JNJ) was downgraded to “hold” from “buy” at Jefferies, which cited concerns about the company’s exposure to generic competition. The stock was also given a price target of $130, which is 10% below its current price. Jefferies analyst Michael Ulz cited concerns about the company’s exposure to generic competition, as well as its recent recalls. He also noted that Johnson & Johnson is facing challenges in its pharmaceutical business.
These are just a few of the analyst upgrades and downgrades that have been issued on Monday June 12, 2023. Investors should carefully consider these changes before making any investment decisions.
News Desk
