Downgrades Hit Controls and Pharma Giants

Two high-profile downgrades landed this week. Analysts cut their ratings on both JCI and BMY, the latest signs of caution in industrials and biopharma.

Johnson Controls took a downgrade from a Buy-equivalent to Hold. The target price slipped to $162.05 from $161.05. The building technology giant carries a market cap near $89 billion. Its SI % FF sits at just 1.6%, so short sellers are not yet piling in.

Bristol-Myers Squibb also received a downgrade. The consensus balance shifted, with one fewer Hold rating and one more Sell. The average target fell to $64.91. BMY trades near $133 billion in market cap. Short interest remains modest at 2.4% of float.

On the positive side, AMZN continues to attract upgrades. Target prices edged up to $321.95 on average. Consensus is overwhelmingly bullish with 59 Buy ratings and just three Holds.

RCL picked up a new analyst recommendation. The cruise operator saw its average target reach $349.73. With 16 Buy ratings, Wall Street remains upbeat on leisure travel demand.

ABBV and CTVA also saw target price increases this week, reflecting steady optimism in pharma and agriculture.