Today’s most significant downgrade

David Kirakosian

Baird downgraded Boot Burn (NYSE:) from Outperform to Neutral with a price target of $86.00. The company’s results last week underscored its continued solid execution while disproving concerns about “excess earnings.”

Still, with the stock up 38% year-to-date and a more cautious outlook across the sector, the company has tempered its bullishness on its long-term potential.

Stocks fell more than 2% today.

Piper Sandler has downgraded Edwards Lifesciences (NYSE:) from Overweight to Neutral and lowered its price target from $95.00 to $80.00. The downgrade is based on the company’s own paperwork, Piper Sandler believes the US TAVR market is becoming more competitive, and the stock setting behind what is seen as lofty guidance for 2023 isn’t ideal. It was based on three factors, including the fact that it cannot be said. .

Stocks fell more than 2% today.

The CFRA downgraded Baidu (NASDAQ:) from hold to sell and raised its price target to $103.00 from $95.00.

Vertical Research Partners downgraded Eastman Chemical (NYSE:) from buy to hold after it reported a fourth-quarter miss on Thursday.

Shares of Azek Company (NYSE:) fell more than 2% today after BofA Securities downgraded the company from buy to neutral.

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