By Davit Kirakosyan
KeyBanc downgraded PayPal (NASDAQ:PYPL) to Sector Weight from Overweight amid “fundamental uncertainty". According to the firm, branded share gains could be constrained provided momentum across other wallets such as Apple (NASDAQ:AAPL) Pay.
Stifel downgraded Duck Creek Technologies Inc (NASDAQ:DCT) to Hold from Buy and raised its price target to $19.00 from $16.00. Shares gained more than 46% today after the company announced it has entered into a definitive agreement to be acquired by Vista Equity Partners for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.
Jefferies downgraded PENN Entertainment Inc (NASDAQ:PENN) to Hold from Buy and cut its price target to $34 from $50, mainly because of the shift in the firm's preference for Las Vegas operators and "clear growth stories" as it expects muted growth to modest decline across regional markets.
RBC Capital downgraded Medtronic (NYSE:MDT) to Sector Perform from Outperform and cut its price target to $89.00 from $102.00. While expecting trends to improve going forward, the firm finds it more difficult to see notable outperformance for the company relative to peers given lost credibility. Shares fell more than 4% today.
BofA Securities downgraded Sea Ltd (NYSE:SE) to Neutral from Buy and lowered its price target to $60.00 from $74.00. Shares closed more than 4% lower today.
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