Downgrades Hit Pharma, Tech, and Industrials

Three notable downgrades landed on Sunday, hitting Bristol-Myers Squibb, Johnson Controls, and Zebra Technologies.

BMY was cut by analysts as consensus slipped. The average target price dipped to $64.91. The pharma giant carries a $133 billion market cap but short sellers remain light at just 2.4% of free float.

Johnson Controls also took a downgrade. The consensus shifted from two sells to one. Target price edged up slightly to $162.05. The building tech company is worth $89 billion with short interest sitting at 1.6% of FF.

Zebra Technologies saw its consensus tip more bearish too. One hold was reclassified as a sell. Short interest here is notably higher at 6.9% of FF — worth watching for further pressure.

On the positive side, Amazon led upgrades with its average target price lifted to $321.95. All 59 covering analysts remain bullish. AbbVie target prices rose to $270.39 with 23 buy ratings intact.

Bank of New York Mellon received a fresh new recommendation. Consensus now shows five buys across 20 analysts. The custodian bank trades at a $106 billion market cap.