AVYA - Avaya stock ends lower after hitting record low; Barclays downgrades to Underweight

Avaya (NYSE:AVYA) ended 5.5% lower on Tuesday after tumbling to a record low as Barclays downgraded the stock to Underweight from Equal-weight. Barclays also cut AVYA's price target to $5 from $8, implying a potential downside of 9.1% to Tuesday's close. Wall Street analysts on average rate AVYA Hold, with an average PT of $7.57. Meanwhile, SA Quant warned that AVYA - rated Strong Sell - is at high risk of performing badly due to its shrinking growth and negative EPS revisions. AVYA stock dropped 73.4% YTD and ~52% in the last 1 month. Last week, AVYA stock slid after multiple brokerages cut their PTs after the firm reported Q2 earnings.

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Avaya stock ends lower after hitting record low; Barclays downgrades to Underweight