Downgrades Hit PayPal and Marriott

Analysts cut ratings on PayPal and Marriott on Wednesday, while Gartner won an upgrade that lifted its consensus to a majority buy.

PayPal was downgraded, with the consensus shifting one notch toward sell. The average target price slipped to $56.83. The $48.8 billion payments group has seen pressure from competition in digital wallets. Short interest stands at 3.4% of free float, suggesting limited bearish conviction from that angle.

Marriott took a sharper blow. Its consensus moved from 13 holds and 13 sells to 14 sells. The target price dropped to $403.62 from $393.35 a year earlier. At a $108.6 billion market cap, the hotel giant carries just 3% short interest. But analysts are clearly wary of the group's valuation heading into a potentially softer travel spending period.

Gartner was the clearest positive. One analyst upgraded the IT research firm, pushing the consensus buy count down from three to two on paper but tightening the hold category. The average target rose to $196.62. Gartner trades at a $14.9 billion market cap with short interest at 11.8% of free float, one of the higher readings among peers.

Expeditors International saw the largest target price move in percentage terms, up to $189.47 from $181.47. Palantir and Pfizer also received upward target revisions.