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Fly News Breaks for July 18, 2017
DDC, FMC, CRUS, ADP, AMD
Jul 18, 2017 | 10:40 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AMD (AMD) downgraded to Underweight from Equal Weight at Barclays with analyst Blayne Curtis saying he is "unconvinced" that AMD products will gain enough traction to support the current valuation. 2. ADP (ADP) downgraded to Equal Weight from Overweight at Barclays with analyst Darrin Peller citing valuation and the potential for lingering political driven uncertainty to impact bookings growth. The analyst lowered his price target for the shares to $105 from $110. 3. Cirrus Logic (CRUS) downgraded to Underweight from Equal Weight at Barclays with analyst Blayne Curtis saying the company's content story "stalls" in fiscal year 2019. 4. FMC Corporation (FMC) downgraded to Neutral from Buy at Seaport Global with analyst Michael Harrison saying competitor Bayer recently noted high inventories of crop protection chemicals in Brazil that creates a more cautious view of FMC's second half earnings. 5. Dominion Diamond (DDC) was downgraded to Hold from Buy at Gabelli and to Market Perform from Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.