Barclays Slashes NRG Target by a Fifth

Barclays cut its price target on NRG Energy from $204 to $163, a drop of more than 20%, while keeping its Buy rating. The stock's $19.7bn market cap makes the move one of the sharpest target reductions in today's session.

Also at Barclays, analyst Kannan Venkateshwar trimmed his target on VZ from $46 to $44. The cut kept a Hold rating in place and reflects continuing pressure on telecom growth.

Wells Fargo's Sam Margolin took his EQT target down from $79 to $71, again holding a Buy. The natural gas producer has faced pressure alongside softer near-term gas prices.

On the downgrade front, consensus moved against ABT Abbott Laboratories, shifting one analyst from Hold to Sell. The move leaves the $181bn healthcare giant with five Sell ratings and 23 Buys. A separate consensus shift hit HUBB Hubbell, where the average target slipped from $555 to $552.

On the positive side, RCL Royal Caribbean saw its consensus target edge up to $350, while CDNS Cadence Design Systems gained ground with an upgraded average target of $410. HCA Healthcare also saw its target lifted, with the consensus moving to $464 from $462.

DA Davidson downgraded WY Weyerhaeuser, cutting its target from $31 to $27 while stripping the Buy rating. Housing market softness continues to weigh on timber names.