Today's Most Important Downgrades

Cowen downgraded Meta Platforms Inc. (NASDAQ: META) to Market Perform from Outperform and lowered its price target to $135.00 from $205.00 following a big Q3 EPS miss and disappointing revenue guidance. Shares plummeted more than 24% today.

Bilibili (NASDAQ: BILI) shares fell more than 9% today after Citi downgraded the company to Neutral from Buy and lowered its price target to $12.00 from $38.00. With increasing uncertainty on the growth outlook amid worsening macro, the analysts are cautious if slower growth momentum on tightening ad budgets, slower new games releases, and weakened spending on VAS could weigh on margins and push out profitability timing.

Raymond James downgraded Amedisys (NASDAQ: AMED) to Market Perform from Outperform following Q3 results that came in below expectations and a second EBITDA guidance cut of the year. As a result, shares plunged nearly 12% today.

JPMorgan downgraded VF Corp. (NYSE: VFC) to Underweight from Neutral with a price target of $29.00. Shares were down nearly 3% today following the company’s reported Q3 miss.

By Davit Kirakosyan

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