Today's most important downgrades

Stifel downgraded CrowdStrike Holdings (NASDAQ: CRWD) to Hold from Buy and lowered its price target to $120.00 from $225.00. The company's shares plunged more than 14% today following the Q3 report.

BofA downgraded Carvana (NYSE: CVNA) to Neutral from Buy and reduced its price target to $10.00 from $43.00, noting that now it believes that without a cash infusion, the company is likely to run out of cash by the end of 2023. Despite the downgrade, the company’s shares closed more than 4% higher today.

Piper Sandler downgraded Nutrien (NYSE: NTR) to Neutral from Overweight and lowered its price target to $93.00 from $115.00 on the company’s Q3 results, reduction in 2022 guidance and its own revised look at potash markets for 2023 and beyond.

BofA Securities downgraded Southwest Gas (NYSE: SWX) to Neutral from Buy and lowered its price target to $65.00 from $87.00.

By Davit Kirakosyan

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