In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Wall Street Analysts Trim Price Targets for These 5 Stocks.
05. The Estée Lauder Companies Inc. (NYSE:EL)
Number of Hedge Fund Holders: 59
In recent financial analysis activity on August 8, Steve Powers, an analyst affiliated with Deutsche Bank, enacted a minor adjustment in the estimated price target for The Estée Lauder Companies Inc. (NYSE:EL), a prominent company within the cosmetic industry. Previously set at $207, the newly revised price target now stands at $206. Despite this slight alteration in the projected price target, Steve Powers has upheld the company’s “Buy” rating. This suggests that Powers maintains a positive outlook on The Estée Lauder Companies Inc. (NYSE:EL) potential performance in the market, indicating his belief that the company’s shares might offer a favorable investment opportunity. The adjustment of just $1 in the price target reflects a nuanced reassessment by Powers, possibly considering various factors, including the company’s recent performance, market trends, and potential growth prospects.
Here is what Aristotle Atlantic Partners has to say about The Estee Lauder Companies Inc. (NYSE:EL) in its Q2 2023 investor letter:
“Estee Lauder shares were weak during the second quarter, following an inline earnings report where Estee again pushed out the timing of a recovery in their travel retail business due to sluggish travel trends in China and an inventory overhand in that end market. Estee reduced fiscal 2023 earnings guidance again and pushed the timing of the recovery toward the end of this calendar year. Outside of travel retail, growth was solid in the Americas, Europe, APAC, Emerging Markets and China.”
04. Datadog, Inc. (NASDAQ:DDOG)
Number of Hedge Fund Holders: 64
On August 8, RBC decided to revise its price target for Datadog, Inc. (NASDAQ:DDOG). The target price has been lowered from its previous level of $118 to a new value of $103. This adjustment comes in response to what RBC refers to as “disappointing” results for the second quarter and less favorable guidance for the year 2023. However, despite this price target cut, RBC maintains its positive “Outperform” rating for Datadog, Inc. (NASDAQ:DDOG). This change in the price target suggests that RBC’s analysts have reassessed Datadog, Inc. (NASDAQ:DDOG) potential value in light of recent developments, especially the disappointing Q2 results and the company’s guidance for the upcoming year. The decrease of $15 from the earlier target signifies RBC’s updated viewpoint on Datadog, Inc. (NASDAQ:DDOG) valuation within the market. Despite the adjusted price target, the decision to keep an “Outperform” rating underscores RBC’s belief that Datadog still holds promise and potential compared to the broader market. This indicates that RBC views the recent setbacks as potentially temporary or manageable issues that may not undermine the company’s overall prospects.
03. Duke Energy Corporation (NYSE:DUK)
Number of Hedge Fund Holders: 64
On August 9, James Thalacker, an analyst associated with BMO Capital, modified the price target for Duke Energy Corporation (NYSE:DUK), a significant player in the energy sector. The adjusted price target now stands at $98, compared to the previous value of $105. Despite this change, Thalacker maintains an “Outperform” rating for the company. This adjustment in the price target signifies Thalacker’s revised evaluation of Duke Energy Corporation (NYSE:DUK) potential value within the market. The decrease of $7 from the prior target reflects his updated perspective on the company’s valuation. It’s noteworthy that even with the adjusted price target, Thalacker’s decision to uphold an “Outperform” rating indicates his continued positive outlook on Duke Energy Corporation (NYSE:DUK) performance compared to the market average. This suggests that Thalacker believes Duke Energy has strengths that could lead to better-than-average returns for investors.
02. Biogen Inc. (NASDAQ:BIIB)
Number of Hedge Fund Holders: 67
On August 9, Robyn Karnauskas, an analyst from Truist Securities, adjusted the price target for Biogen Inc. (NASDAQ:BIIB), a company operating in the biotechnology sector. The revised price target now stands at $340, down from the previous value of $350. However, Karnauskas has maintained a “Buy” rating for the company despite this adjustment. This adjustment in the price target reflects Karnauskas’ reassessment of Biogen Inc. (NASDAQ:BIIB) potential valuation within the market. The decrease of $10 from the previous target indicates her updated perspective on the company’s worth, likely considering factors such as recent market dynamics, Biogen Inc. (NASDAQ:BIIB) performance, and industry trends. Karnauskas’s decision to retain a “Buy” rating signifies her continued positive view of Biogen Inc. (NASDAQ:BIIB) performance compared to market averages. This suggests that she believes Biogen Inc. (NASDAQ:BIIB) holds qualities that could lead to strong investment returns.
01. The Walt Disney Company (NYSE:DIS)
Number of Hedge Fund Holders: 95
On August 9, Deutsche Bank’s analyst, Bryan Kraft, changed the price target for The Walt Disney Company (NYSE:DIS). The revised price target now stands at $120, a reduction from the previous value of $131. Despite this adjustment, Kraft upholds his “Buy” rating for The Walt Disney Company (NYSE:DIS) stock. This shift in the price target reflects Kraft’s updated evaluation of The Walt Disney Company (NYSE:DIS) potential market value. The decrease of $11 from the previous target illustrates his re-assessment of the company’s worth, which could be influenced by factors such as recent market trends, The Walt Disney Company (NYSE:DIS) performance, and broader industry dynamics. Kraft’s reiteration of the “Buy” rating ahead of Disney’s quarterly results demonstrates his continued belief in the company’s growth potential. However, his adjustment of the price target reflects his updated perspective, lowering it to $120 from the earlier $131.
Disclosure: None. You can also take a look at Gen Z’s 25 Favorite Brands in 2023 and 10 Most Profitable Small Businesses in 2023.
