Several Wall Street firms adjusted their ratings on listed companies on Monday. Among these, Prudential Financial Group saw its rating downgraded by Morgan Stanley, marking one of the day's most notable downgrades.

Morgan Stanley lowered its rating on Prudential (PRU) from "Equal-weight" to "Underweight" and reduced its price target from $106 to $92. Analysts indicated that the Japanese market faces multiple headwinds following a halt in new sales, including macroeconomic pressures and profitability concerns. Historically, large-scale sales fraud in Japan, once confirmed, has had long-term effects on sales, surrender rates, and annualized net premiums. Prudential is scheduled to release its first-quarter financial results on May 6, with market expectations for earnings per share at $3.10, representing a year-over-year decline of approximately 5.8%.

In the food sector, DA Davidson downgraded Vital Farms (VITL) from "Buy" to "Neutral" and significantly cut its price target from $47 to $16. Analysts noted that increased egg supply has driven down prices, coinciding with the company's accelerated supply and capacity expansion efforts. The company's brand equity has been impacted, and management may issue its third guidance revision within six months.

Regarding tech giants, Freedom Broker downgraded Alphabet (GOOGL) from "Buy" to "Hold" but raised its price target from $365 to $400, reflecting a more conservative stance. Additionally, Jefferies downgraded its ratings on Meta and Microsoft, while Wedbush substantially increased its price target for AMD to $400.