6 analyst cuts: Morgan Stanley slashes Charles Schwab inventory | Professional Recap

By Davit Kirakosyan

Investing.com — Right here is your day by day Professional Recap of the most important analyst cuts you could have missed since yesterday.

Charles Schwab downgraded to Equalweight, shares fall

Morgan Stanley downgraded Charles Schwab (NYSE:) to Equalweight from Obese and lower its value goal to $68.00 from $99.00. Consequently, shares fell almost 2% pre-market right now.

The corporate additionally noticed value goal cuts at Citi yesterday and JPMorgan final week.

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Southern Copper downgraded to Equalweight

Morgan Stanley downgraded Southern Copper (NYSE:) to Equalweight from Obese with a value goal of $70.00, noting it now sees a extra balanced risk-reward following the inventory’s outperformance during the last three, six, and 12 months.

In keeping with the agency, now the inventory extra adequately displays the corporate’s sturdy money era and constant returns to shareholders.

Nexa Assets downgraded at Morgan Stanley

Morgan Stanley downgraded Nexa Assets (NYSE:) to Underweight from Obese and lower its value goal to $5.60 from $6.00.

Given the corporate’s newest steering, Morgan Stanley’s commodities group’s new steel value forecasts, and new BRL/PEN assumptions, the agency diminished its 2023 and 2024 EBITDA estimates by roughly 40% and 5%, respectively.

3 extra downgrades

Wells Fargo downgraded Xenia Motels & Resorts (NYSE:) to Equal Weight from Obese and lower its value goal of $13.00 from $18.00.

The corporate reported its earlier this month, beating consensus estimates on EPS and revenues.

BofA Securities downgraded Ermenegildo Zegna (NYSE:) to Impartial from Purchase whereas elevating its value goal to $13.50 from $13.00.

Evercore ISI downgraded Atreca (NASDAQ:) to In Line from Outperform and lower its value goal to $1.50 from $2.00 following the corporate’s reported and ATRC-101 replace yesterday.