Today's most important downgrades By Investing.com

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Today's most important downgrades

Published Nov 09, 2022 17:20

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By Davit Kirakosyan

Truist Securities downgraded Vericel Corporation (NASDAQ:VCEL) to Hold from Buy with a price target of $22.00, noting it sees a balanced risk/reward and valuation reflecting the medium-term growth outlook. Shares plunged more than 23% today following the company’s reported Q3 results.

BofA Securities downgraded Dominion Resources, Inc. (NYSE:D) to Underperform from Buy and lowered its price target to $59.00 from $94.00. Shares were down more than 3% intra-day today.

Wells Fargo downgraded Nexstar Media (NASDAQ:NXST) to Equal Weight from Overweight and lowered its price target to $175 from $227, noting it believes early 2023 will bring a cut to FCF guidance driven by higher cord cutting and higher cash interest at the company. Shares were down 5% today.

Morgan Stanley downgraded Quantumscape Corp (NYSE:QS) to Underweight from Equalweight and lowered its price target to $4.00 from $12.00. Shares plunged more than 15% today.

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Gold	1,930.65	-5.95	-0.31%
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Copper	3.6603	-0.0139	-0.38%
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FirstRand Ltd	6,541	+55	+0.85%
BHP Group Ltd	50,000	+0	+0.00%
African Rainbow Minerals	16,331	-539	-3.20%
Naspers	312,433	+13138	+4.40%

Today's most important downgrades

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