
By Davit Kirakosyan
Here is your Pro Recap of the biggest analyst cut you may have missed since yesterday: downgrades for Alphabet, First Solar, SoFi Technologies, and Mid-America Apartment Communities.
InvestingPro subscribers got this news first. Never miss another market-moving headline.
Loop Capital downgraded Alphabet (NASDAQ:GOOGL) to Hold from Buy with a price target of $125.00, as InvestingPro reported in real time. The downgrade move comes after the shares rally following the company’s successful I/O event that “opened some eyes to the company’s strong position in AI.”
The downgrade is due to concerns about the company's ability to maintain its dominant position during a technology transformation. The firm considers search competition from Microsoft (NASDAQ:MSFT) a lesser threat than the risk of displacement from behavioral change as users interact more with AI assistants to find information. Furthermore, the firm believes long-term structural uncertainties surrounding the AI transition may make investors nervous and limit the stock's valuation.
Wolfe Research downgraded First Solar (NASDAQ:FSLR) to Peerperform from Outperform on fundamental valuation.
The stock gained 26% on Friday on constructive Treasury guidance on domestic content. The move was much larger than expected. According to the firm, First Solar stock has more than fully recovered from the sell-off post-earnings and is at a new 15-year high.
Shares fell more than 4% yesterday.
Wedbush downgraded SoFi Technologies (NASDAQ:SOFI) to Underperform from Neutral and cut its price target to $2.50 from $5.00. Shares fell nearly 5% yesterday.
Wolfe Research downgraded Mid-America Apartment Communities (NYSE:MAA) to Underperform from Peerperform with a price target of $137.00 on expected growth deceleration.
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