Downgrades Hit Three Sectors at Once

Analysts delivered a trio of downgrades on August 2, cutting ratings on JCI, BMY, and ZBRA in the same session.

Johnson Controls International slipped to a lower rating. The building-tech giant carries an $89 billion market cap. Its consensus target now sits at $162, with sell-side opinion shifting toward Hold. Short sellers have little conviction here — SI % of FF is just 1.6%.

Bristol-Myers Squibb took a hit from analysts too. The pharma heavyweight saw its consensus target nudge down to $64.91 from $64.21 prior. BMY's $133 billion market cap makes it one of the bigger names to be downgraded today. Short interest is light at 2.4% of free float.

Zebra Technologies also lost a bull. The barcode and enterprise tech firm dropped a notch in consensus from 4 Holds to 5. Target stays near $332. At $14 billion market cap, ZBRA is the smallest of the three and carries the highest short interest at 6.9% of FF.

On the brighter side, AMZN drew fresh target price increases. Consensus target rose to $321.95. All 59 analysts tracking Amazon remain at Buy.

ABBV also got a small bump, with AbbVie's consensus target ticking up to $270.39. The pharma name has strong analyst backing — 23 Buys against just one Sell.