Wall Street Turns Cautious on Three Names

Analysts issued a wave of downgrades on Saturday. Three mid-to-large-cap stocks drew the sharpest cuts.

Johnson Controls International was downgraded, with the consensus target slipping to $162. The building-tech giant carries an $89B market cap. Short interest sits at just 1.6% of free float — bears are not the story here. The downgrade reflects analyst caution on industrial fundamentals rather than short-side pressure.

Bristol-Myers Squibb also took a hit. Analysts cut the rating and trimmed the average target to $64.91. The pharma heavyweight has a $133B market cap. SI sits at 2.4% of free float. Sell-side counts now show 18 holds against just 8 sells — a crowded fence. Any negative pipeline news could sharpen that split quickly.

Zebra Technologies was downgraded too. Target held at $332. Short interest is higher at 6.9% of free float. Availability of shares to borrow is still ample at 691%. That suggests the downgrade hasn't yet triggered a big short-selling rush.

On the positive side, Amazon saw its consensus target nudge up to $321.95. Analysts overwhelmingly back the stock — 59 buys versus just 3 holds. Hasbro and AbbVie also received modest target upgrades from their respective analyst pools.