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Fly News Breaks for April 3, 2017
TRR, ACN, PCLN, UAA, UA, ACOR
Apr 3, 2017 | 10:21 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Acorda Therapeutics (ACOR) was downgraded to Neutral from Overweight at JPMorgan and to Neutral after Ampyra ruling at Janney Capital. 2. Under Armour (UA, UAA) downgraded to Underperform from Market Perform at FBR Capital with analyst Susan Anderson saying her channel checks and proprietary survey point to continued sales and margin pressure. Further, the checks show a price war is intensifying between Nike (NKE) and Under Armour following the latter's entrance into Kohl's (KSS). She believes Under Armour's apparel growth and margins may be worse than expected. 3. Priceline (PCLN) downgraded to Neutral from Buy at MoffettNathanson with analyst Perry Gold saying Priceline's valuation is no longer attractive, Trump's travel ban could have a negative impact, paid search should deteriorate further and comps get more difficult versus the strong 2016, and sees increasing FX headwinds. 4. Accenture (ACN) downgraded to Sell from Neutral at Goldman with analyst James Schneider telling investors he expects consulting growth to slow through 2018 driven by slowing Digital growth and faster legacy erosion as SaaS workloads move to the cloud. Schneider also expects outsourcing growth to slow in 2017 as bookings have declined recently and expects the multiple to come under pressure as growth in Digital and outsourcing slows. 5. TRC Companies (TRR) downgraded to Neutral from Buy at Sidoti. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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