Analysts downgraded Tesla, Workday, and Starbucks, but potential buy opportunities exist for all three.

From MarketBeat: 2024-06-04 07:43:50

Investors should pay attention to analysts’ sentiment, as upgrades and downgrades can significantly impact stock prices. Tesla has become the most downgraded stock on MarketBeat, with 28 negative revisions in the last 90 days affecting its price target. Despite this, analysts remain mixed about Tesla’s future, still ranking it at Hold.

Workday experienced a sharp stock price drop due to decreased guidance, causing analysts to reset their sentiment. However, the stock is undervalued, with the consensus target still 35% above the current price. The company’s growth rate of 17% is expected to remain steady over the coming years, making it a potential buy opportunity.

Starbucks shares have corrected before their Q1 report, resulting in a buy-the-news event despite analysts lowering price targets. The consensus target of $96 implies a 20% upside for this hold-rated stock, expected to bounce back by year-end. Technically, the market is bouncing from solid support near $75.



Read more at MarketBeat: Analysts’ Top 3 Downgrades: Tesla, Workday, Starbucks