Analysts are Downgrading These 5 Stocks

3. NCR Corporation (NYSE:NCR)

Number of Hedge Fund Holders: 47

Morgan Stanley turned bearish on NCR Corporation (NYSE:NCR) on Monday, September 19, 2022. Analyst Erik Woodring slashed his ratings for the software, consulting and tech firm from “Overweight” to “Equal-Weight” and lowered his price target from $38 to $27.

Woodring was primarily moved by NCR’s recent decision to split into two independent firms. He expects NCR Corporation (NYSE:NCR) shares to remain range-bound until the company offers key details related to the spin-off.

NCR Corporation (NYSE:NCR) last week decided to separate into two companies. Speaking on the development, CEO Michael Hayford said in a statement:

“This announcement is the right next step in NCR’s transformation. The separation would create two strong companies at scale, each with distinctive business goals and capital structures and allocation, as well as increased flexibility to innovate.”