- Several prominent Wall Street analysts adjusted their ratings and lowered price targets for multiple major companies on Wednesday.
- Raymond James downgraded On Holding AG from Strong Buy to Outperform with a $38 price target, while Deutsche Bank lowered AtaiBeckley Inc to Hold with an $8 target.
- Additional downgrades included BTIG shifting Apogee Therapeutics to Neutral, Oppenheimer cutting Legend Biotech to Perform with a $40 target, and China Renaissance moving Tencent Music to Hold with a $9.3 price target.
