Downgrades Update: Wall Street Analysts Adjust Ratings on Major Stocks

Recent changes in outlook from top Wall Street analysts have resulted in significant downgrades for several prominent companies. This shift in perspective highlights the dynamic nature of the stock market and the importance of keeping an eye on analyst ratings. Below are the key downgrades that occurred recently.

Bank of America Downgrade

Morgan Stanley's analyst Betsy Graseck has downgraded Bank of America Corporation (BAC) from an Overweight to an Equal-Weight rating. In a mixed update, the price target was raised from $48 to $55. As of Friday, Bank of America shares closed at $46.75.

Myriad Genetics Sees a Downgrade

Analyst Puneet Souda from Leerink Partners downgraded Myriad Genetics, Inc. (MYGN) from Outperform to Market Perform, drastically cutting the price target from $30 to $21. The shares closed on Friday at $15.13.

Biogen Rating Cut by Jefferies

Jefferies analyst Michael Yee has lowered the rating for Biogen Inc. (BIIB) from Buy to Hold, with a new price target set at $180, down from $250. The stock ended Friday at $157.78.

Advanced Micro Devices Downgraded

In a notable downgrade, B of A Securities analyst Vivek Arya reduced the rating for Advanced Micro Devices, Inc. (AMD) from Buy to Neutral and adjusted the price target from $180 to $155. AMD shares closed at $138.59 on Friday.

STMicroelectronics Adjusted Rating

JP Morgan analyst Sandeep Deshpande downgraded STMicroelectronics N.V. (STM) from Overweight to Neutral. The shares closed at $26.43 at the end of the trading week.

This week's downgrades by top analysts underscore the varied views on performance across major sectors of the market. For continued updates on stock ratings, including both upgrades and downgrades, it is advisable to consult comprehensive analyst ratings pages.

For those considering investing in AMD, it's essential to stay informed about analyst projections and market trends.

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