Thursday brought a trio of downgrades as prominent Wall Street analysts reassessed their positions on several high-profile names. The most notable shift came from TD Cowen, which backed away from its bullish stance on the protein shake maker.
TD Cowen analyst Robert Moskow downgraded BellRing Brands Inc. (BRBR) from Buy to Hold and slashed the price target from $37 down to $31. The stock closed at $29.26 on Wednesday, trading just below even the reduced target price.
Meanwhile, Jefferies analyst Surinder Thind had a busy morning making a pair of downgrades. First up was Globant SA (GLOB), which got demoted from Buy to Hold with the price target tumbling from $80 to $61. Globant shares closed at $61.46 on Wednesday, right in line with the new target.
Thind also downgraded Semrush (SEMR) from Buy to Hold, though this one came with an interesting twist—the analyst actually raised the price target from $10 to $12 even while pulling back the rating. SEMrush shares closed at $11.76 on Wednesday, sitting comfortably within range of the increased target.
When analysts move stocks from Buy to Hold, they're essentially saying the easy money has been made. It's not a bearish call exactly, but it signals that the risk-reward balance has shifted. For investors holding these positions, it might be time to reassess whether these names still deserve a spot in your portfolio.
