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Crowdstrike (NASDAQ:CRWD) shares fell more than 2% premarket today after Morgan Stanley downgraded the company to Equalweight from Overweight and cut its price target to $167.00 from $178.00 ahead of Q2/24 earnings announcement on Wednesday.
The consensus and management’s guidance of low-30% growth in total ARR for fiscal 2024 assumes that there will be a resurgence in NNARR during the second half of the year. Morgan Stanley believes that the consensus forecast for NNARR is overly optimistic at 6% year-over-year growth in Q3 and sees a downside to a 12% growth estimate in Q4.
Wolfe Research upgraded Forward Air (NASDAQ:FWRD) to Peerperform from Underperform, as reported in real-time on InvestingPro.
Since the announcement of the Omni Logistics acquisition on August 10, Forward Air shares have dropped by around 35%. “So after the big reset to the stock and with signs of a bottom with the 13% bounce of the bottom, we’re moving back to the sidelines,” mentioned Wolfe Research.
Zimmer Biomet (NYSE:ZBH) shares rose more than 1% premarket today after BTIG upgraded the company to Buy from Neutral with a price target of $139.00.
Bernstein downgraded L3Harris Technologies (NYSE:LHX) to Market Perform from Outperform and cut its price target to $210.00 from $239.00.
The firm still expects robust top-line growth for L3Harris, supported by growing backlogs, but mentioned that the problem remains on margins with supply chain issues, inflation on fixed-price contracts, and execution.
UGI (NYSE:UGI) shares rose more than 3% premarket today after Wells Fargo upgraded the company to Overweight from Equal Weight with a price target of $27.00 (from $28.00).
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