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Bed Bath & Beyond Is Downgraded at Baird After 'Meme Stock Frenzy'
Baird moved to the sidelines on $Bed Bath & Beyond Inc(BBBY.US)$ after a sizzling rally which the firm called the latest meme stock frenzy. The firm downgraded the retailer to Underperform from a prior rating position of Neutral. "This frenzied move (>100% of the public float traded on Monday) has been driven by non-fundamentally focused market participants." updated analyst Justin Kleber.
Palantir Downgraded to Sell From Hold at Deutsche Bank
Deutsche Bank analyst Brad Zelnick downgraded $Palantir Technologies(PLTR.US)$ to Sell from Hold with a price target of $8, down from $11. The company's Q2 report leaves "little to hang our hat on," Zelnick tells investors in a research note.
Piper Upgrades Tyson Foods to Neutral With Risks Priced In
Piper Sandler analyst Michael Lavery last night upgraded $Tyson Foods(TSN.US)$ to Neutral from Underweight with an unchanged price target of $79. The company still faces risks from consumers downtrading, but these now appear more fully reflected in the stock's current valuation, Lavery tells investors in a research note.
Source: Seeking Alpha, The Fly
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