5 big analyst cuts: Agilent slashed on Q2 print; shares plunge on guidance miss
Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades for Agilent, Integra LifeSciences, Shopify, SiteOne Landscape Supply, and Textron.
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Agilent downgraded following Q2 earnings
KeyBanc downgraded lab-equipment maker Agilent Technologies (NYSE:A) to Sector Weight from Overweight. The rating change is due to a recovery needed in margins and a lack of revenue catalysts in the back half of the year.
Shares dropped more than 9% pre-market today following Q2 earnings. While Q2 EPS and revenues came in better than expected, guidance missed the consensus estimates.
Integra LifeSciences downgraded to Underweight, stock plunges on product recall
JPMorgan downgraded Integra LifeSciences (NASDAQ:IART) to Underweight from Neutral and cut its price target to $43.00 from $56.00, as InvestingPro reported in real time.
Shares plunged more than 20% yesterday and are trading 2% lower pre-market today after the company announced a voluntary global recall of all its products manufactured in its Boston, Massachusetts facility between March 1, 2018, and May 22, 2023.
The company said previous full-year revenue and adjusted EPS guidance will be negatively affected by approximately $60 million and $0.35, respectively.
3 more downgrades
Exane BNP Paribas downgraded Shopify (NYSE:SHOP) to Underperform from Neutral.
Siteone Landscape Supply (NYSE:SITE) shares fell nearly 2% pre-market today after Barclays downgraded the company to Underweight from Equalweight and cut its price target to $144.00 from $146.00.
Vertical Research Partners downgraded Textron (NYSE:TXT) to Hold from Buy.
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5 big analyst cuts: Agilent slashed on Q2 print; shares plunge on guidance miss
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