{"id":3428,"date":"2023-05-03T00:19:28","date_gmt":"2023-05-03T04:19:28","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/5-big-analyst-cuts-exxonmobil-downgraded-at-goldman-pro-recap\/"},"modified":"2023-05-03T00:19:29","modified_gmt":"2023-05-03T04:19:29","slug":"5-big-analyst-cuts-exxonmobil-downgraded-at-goldman-pro-recap","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=3428","title":{"rendered":"5 big analyst cuts: ExxonMobil downgraded at Goldman | Pro Recap"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

By Davit Kirakosyan<\/p>\n

Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed today.<\/p>\n

Exxon Mobil downgraded at Goldman, shares drop<\/strong><\/h2>\n

Goldman Sachs downgraded Exxon Mobil <\/span><\/span> (NYSE:) to Neutral from Buy with a price target of $125.00 following strong outperformance in stock, which is up about 37% over the last 12 months as higher oil prices boosted the company\u2019s profits to record levels.<\/p>\n

InvestingPro users always know first. Start your free 7-day trial to get on board.<\/p>\n

Following the downgrade, the shares fell more than 3% today.<\/p>\n

The firm highlighted that since its upgrade in late 2020, the company\u2019s stock has generated a remarkable 175% return. According to the firm, this “structural re-rate” is attributable to factors such as reduced costs, changes in leadership, investments in attractive long-term initiatives, and increased investor trust in the company’s dividend sustainability and share buyback program.<\/p>\n

The firm further states that ExxonMobil’s current valuation better reflects the structural turnaround in the business, with shares trading at a 7% FCF yield on 2024 estimates at $85\/b Brent.<\/p>\n

The company reported its Q1 on Friday, beating both EPS and revenue estimates.<\/p>\n

Doximity shares fall after Wells Fargo downgrade <\/strong><\/h2>\n

Wells Fargo downgraded Doximity <\/span><\/span> (NYSE:) to Equal Weight from Overweight and cut its price target to $37.00 from $39.00, noting its survey highlights resilience, but pharma budget growth limits the upside prospects for Doximity’s shares.<\/p>\n

“Our proprietary Doximity client survey suggests digital 2023 ad budgets are growing mid-to-high-single digits,” said the firm, noting this is a deceleration from its previously anticipated low double-digit growth.<\/p>\n

Shares close more than 2% lower today and are currently trading nearly 2% lower after-hours.<\/p>\n

The company is set to report its Q4\/23 on May 17.<\/p>\n

3 more downgrades <\/strong><\/h2>\n

BMO Capital downgraded Check Point Software Technologies (NASDAQ:) to Market Perform from Outperform and cut its price target to $133.00 from $140.00.<\/p>\n

Shares fell nearly 7% today after the company reported its Q1 results, with revenue coming in at $566 million, missing the consensus estimate of $569.13M. EPS was $1.80, compared to the consensus estimate of $1.74.<\/p>\n

UBS downgraded TAL Education (NYSE:)l to Neutral from Buy with a price target of $6.20. Shares fell nearly 2% today.<\/p>\n

The company reported its Q1 last week, beating Street expectations.<\/p>\n

ArcBest (NASDAQ:) shares fell nearly 3% today after BofA Securities downgraded the company to Underperform from Neutral and cut its price target to $91.00 from $101.00.<\/p>\n

The company reported its Q1 on Friday, with both EPS and revenues coming in worse than the consensus estimates.<\/p>\n

\"InvestingPro<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. By Davit Kirakosyan Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed today. Exxon Mobil downgraded at Goldman, shares drop Goldman Sachs downgraded Exxon Mobil (NYSE:) to Neutral from Buy with a price target of $125.00 following strong outperformance in stock, which is up about 37% […]<\/p>\n","protected":false},"author":1,"featured_media":3429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-3428","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\n5 big analyst cuts: ExxonMobil downgraded at Goldman | Pro Recap | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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