Two prominent economists have warned that the United States is on the verge of a recession. According to research, performance declines are similar to those witnessed before the financial crisis. In the second quarter, the unemployment rate fell below 5%, while GDP increased to a new high of 6.7 percent. The International Monetary Fund has lowered its growth forecast for the US economy from 7% to 6%. China’s rising property crisis is also exacerbating the global economy. Caterpillar Inc. and BlackRock, Inc. are two well-known companies whose recently lowered price forecasts by analysts.
Here is Insider Monkey’s list of the 10 stocks that analysts are cutting price targets of. Airgain, Inc. is ranked tenth on the list of ten stocks whose price goals have been lowered by analysts. In the second quarter, the company slightly met market forecasts on earnings per share but missed revenue estimates by nearly $1 million. Last Monday, Australian drug authorities approved Brukinsa, a medicine developed by BeiGene, Ltd. to treat patients with mantle cell lymphoma. The company is rated ninth on the list of ten equities whose price goals are lowered by analysts. ACADIA Pharmaceuticals Inc. is ranked eighth among the ten stocks whose price goals have been reduced by analysts. Its stock has been falling since it missed revenue projections by more than $9 million in the second quarter. Bed Bath & Beyond Inc. is ranked seventh on the list of ten stocks whose price goals have been lowered by analysts. With an Underperform rating and a $14 price target, Bank of America commenced coverage of the stock. Berry Global Group, Inc. said it would invest $110 million in North America to expand its foodservice packaging business. The announcement came after Hurricane Ida wreaked havoc on mill operations in Louisiana, causing supply chain issues for the company. For more details, click 10 Stocks That Analysts Are Cutting Price Targets Of.