Sell Alert: 10 Stocks Analysts Downgraded on Thursday

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4. EVgo (NASDAQ:EVGO)

Average Upside Potential: 24%

Number of Hedge Fund Holders: 23

Stifel cut EVgo to Hold from Buy on November 12 and lowered its price target to $2.50 from $6. The firm was reacting to a take-private proposal: on November 2, EVgo received an unsolicited, non-binding offer from LS Power to buy all the Class A shares it does not already own for $2.00 in cash.

EVgo runs public fast-charging stations for electric vehicles. In the third quarter of 2026, reported on November 9, charging network revenue rose 29% to $71.8 million, while total revenue slipped 1% to $91.4 million and the net loss widened to $49.2 million from $28.4 million a year earlier. The network had 5,530 stalls in operation at the end of September, up 20%.

For 2026, EVgo guided to total revenue of $375 million to $400 million, adjusted EBITDA between a loss of $30 million and a loss of $15 million, and 1,075 to 1,275 new stalls. It ended the third quarter with $98.7 million in cash and cash equivalents.

The board formed a special committee of independent and disinterested directors to review the LS Power proposal. EVgo said no decision has been made on how to respond.

3. Diamondback Energy (NASDAQ:FANG)

Average Upside Potential: 29%

Number of Hedge Fund Holders: 52

Bernstein’s November 12 downgrade of Diamondback Energy, to Market Perform from Outperform, came with a price target cut to $192 from $221. The firm warned that easing tensions between the United States and Iran could pressure oil prices and returns.

Diamondback is an independent oil and gas company based in Midland, Texas,. In the third quarter of 2026, reported on November 2, net income attributable to the company was $1.603 billion, or $5.69 per diluted share. It produced 525 thousand barrels of oil per day, generated $2.1 billion of free cash flow and raised its base dividend 7.3% to $1.18 per share.

Management lifted its full-year guidance. Oil production is now about 524 thousand barrels per day, and capital spending is $3.95 billion to $4.00 billion, up from about $3.90 billion. For the fourth quarter, it expects oil production of 518 to 528 thousand barrels per day and cash capital spending of $1.00 billion to $1.05 billion.

On November 10, Diamondback and KKR agreed to jointly acquire Five Point Infrastructure’s 70% stake in Deep Blue Midland Basin, the water infrastructure platform Diamondback already part-owns. The deal is expected to close in the fourth quarter of 2026.

2. Devon Energy (NYSE:DVN)

Average Upside Potential: 29%

Number of Hedge Fund Holders: 82

Bernstein downgraded Devon Energy to Market Perform from Outperform on November 12 and cut its price target to $44 from $49. The firm pointed to easing tensions between the United States and Iran and the prospect of lower oil prices.

Devon explores for and produces oil and gas. Its report for the third quarter of 2026, issued on November 5, centered on a reshaped portfolio. The company agreed to exit the Eagle Ford for $4.2 billion, which it expects to yield roughly $3.5 billion in after-tax proceeds, and it plans to use the cash to pay down an additional $1.5 billion of long-term debt in 2027 and reach its $9 billion gross debt target. Buybacks are expected to step up to over $1 billion in the fourth quarter and rise further in 2027.

Devon also laid out its direction for next year. It plans to hold capital flat and direct roughly 75% of it to the Permian, up from approximately 63% in 2026, targeting low-single-digit oil growth and rising free cash flow at constant commodity prices.

The shares trade at about nine times forward earnings, and analysts project annual earnings growth of about 10% over the next five years.

1. Nvidia (NASDAQ:NVDA)

Average Upside Potential: 78%

Number of Hedge Fund Holders: 285

Truist cut Nvidia to Hold from Buy on November 12 and lowered its price target to $174 from $346, saying risks now matter more than valuation. Craig-Hallum also moved to Hold with a $180 target, and Evercore ISI went to In-line with a $186 target. Truist and Craig-Hallum acted after founder and Chief Executive Officer Jensen Huang resigned.

Nvidia designs the chips that run AI data centers. In the second quarter of fiscal 2027, which ended July 26, revenue reached $96.2 billion, up 106% from a year earlier, and data center revenue of $89.0 billion grew 117%. For the third quarter, the company guided to revenue of $108.0 billion, plus or minus 2%, with GAAP and non-GAAP gross margins of 74.0%, plus or minus 50 basis points.

Nvidia returned about $26.0 billion to shareholders in the second quarter through repurchases and dividends and had about $99.0 billion left under its repurchase authorization.

Nvidia is expected to report on November 17 after the close, and analysts expect earnings of $2.47 per share. It is the first report since Huang left. We looked at how Nvidia is expanding into autonomous driving in one of our pieces.

READ NEXT: Nvidia (NVDA) Is Trading Like Growth Will Stop. The Numbers Say Otherwise. and Nvidia Is Becoming More Than a Chipmaker. Can it Sustain Its Exceptional Margins?

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