Today's Most Important Downgrades

Citi downgraded American Express (NYSE: AXP) to Sell from Neutral and lowered its price target to $130.00 from $159.00, noting that the company is one of the stocks that could be challenged during the forecasted recession as economic data "likely worsens into next year."

BofA Securities downgraded Greif Inc. (NYSE: GEF) to Underperform from Buy. Shares were down more than 2% intra-day today.

Citi downgraded SLM Corp. (NASDAQ: SLM) to Neutral from Buy and lowered its price target to $17.00 from $18.00. According to the analysts, their downgrade is partly reflective of potential impacts from a recession and also increased risk for future loan sales.

Mizuho Securities downgraded Realty Income (NYSE: O) to Neutral from Buy and lowered its price target to $61.00 from $76.00.

By Davit Kirakosyan

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