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10-Year Salesforce Bull at Wolfe Downgrades Shares on Slowing Growth
Wolfe Research analyst Alex Zukin last night downgraded $Salesforce (CRM.US)$ to Peer Perform from Outperform without a price target. The thesis on the stock has changed with the company's growth "materially decelerating" following a COVID pull-forward, execution missteps, and acquisition "misfires creating meaningful idiosyncratic headwinds," Zukin tells investors in a research note.
DoorDash Downgraded to Sector Perform From Outperform at RBC Capital
RBC Capital analyst Brad Erickson downgraded $DoorDash (DASH.US)$ to Sector Perform from Outperform with a price target of $60, down from $70. The analyst is "uncomfortable with a potentially unfavorable risk/reward" given the company's "likely hypersensitivity to order deceleration" into 2023.
Rio Tinto Downgraded to Neutral at Citi After Capital Markets Day
Citi analyst Ephrem Ravi downgraded $Rio Tinto (RIO.US)$ to Neutral from Buy with a price target of 5,800 GBp, down from 6,000 GBp, as he lowered his calendar year 2023 and 2024 EPS estimates by 11% and 6%, respectively, following the company's Capital Markets Day.
Source: Seeking Alpha, The Fly
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