2. Club holding Pioneer Natural Resources (PXD) price target lower to $260 per share from $290 at KeyBanc. However, analysts keep their overweight (buy) rating. Analysts blame recently lower natural gas and oil prices. They also cited uncertainty around China’s zero-Covid policy, even as Beijing appears to be easing restrictions as we wrote about Wednesday.
3. Pentagon awards a $9 billion Joint Warfighting Cloud Capability, or JWCC, cloud contract. It will be split among three Club holdings — Alphabet‘s (GOOGL) Google, Microsoft (MSFT) and Amazon (AMZN) — as as well Oracle (ORCL).
4. Baird downgrades Salesforce (CRM) to a neutral rating from an outperform (buy), citing turnover in the executive ranks, including co-CEO Bret Taylor. Analysts cut price target to $150 per share from $200.