By Davit Kirakosyan
Investing.com -- Here is your daily Pro Recap of the biggest analyst cuts you may have missed since Friday’s close.
First Solar downgraded at Citi ahead of Q1 earnings announcement
Citi downgraded First Solar (NASDAQ: FSLR ) to Sell/High Risk from Neutral and cut its price target to $194.00 from $220.00 given its belief that the company’s long-term outlook for margins and growth will draw increased scrutiny as the global supply of Si-based modules rises while the cost drops. Shares are trading more than 2% lower premarket today.
Get this news in real time with InvestingPro for informed, data-driven decisions.
The company is set to report its Q1/23 earnings this Thursday, after the market close. Consensus estimates stand at $1.01 for EPS and $716.79 million for revenues.
C3.ai downgraded to Underperform, shares plunge
C3.ai (NYSE: AI ) shares are trading around 5% lower premarket today after Wolfe Research downgraded the stock to Underperform from Peerperform with a price target of $14.00.
The company reported its Q3/23 earnings last month, with both EPS and revenues coming in above the consensus estimates. For the full year, the company guided revenues in the range of $264M-$266M, compared to the consensus of $261M.
3 more downgrades
Truist Securities downgraded Regions Financial (NYSE: RF ) to Hold from Buy with a price target of $20.00.
Shares fell nearly 3% on Friday after the company reported its Q1 results , with EPS of $0.62 and revenue of $1.95 billion missing the consensus estimates.
Raymond James downgraded Tandem Diabetes Care (NASDAQ: TNDM ) to Market Perform from Outperform. Shares are down nearly 2% premarket today.
Last week, the company announced Control-IQ Technology Meta-analysis, which demonstrated positive clinical impact of automatic correction bolusing on glucose control in people with Type 1 diabetes.
Goldman Sachs downgraded Kingsoft Cloud (NASDAQ: KC ) to Sell from Neutral while raising its price target to $5.10 from $4.00.
The company reported its Q4 results last month, with both EPS and revenues beating the consensus estimates.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.