Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AMD (AMD) downgraded to Market Perform from Outperform at BMO Capital. 2. Zoetis (ZTS) downgraded to Hold from Buy at Deutsche Bank with analyst Gregg Gilbert saying the risk/reward is more balanced with the shares up 18% year-to-date. 3. CF Industries (CF) downgraded to Neutral from Outperform at Credit Suisse with analyst Christopher Parkinson citing the recent rally in shares. 4. Eli Lilly (LLY) downgraded to Market Perform from Outperform at Leerink with analyst Seamus Fernandez saying that the regulatory update for Olumiant removes upside optionality in rheumatoid arthritis and possibly other indications given concerns over thrombosis risk. 5. Wynn Resorts (WYNN) was downgraded to Hold from Buy at Union Gaming and to Market Perform from Outperform at Telsey Advisory. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

TD Cowen raised the firm's price target on AMD to $200 from $185 and keeps a Buy rating on the shares. The analyst expect data center strength and "well-known softness elsewhere" when AMD reports Q1 results. The firm sees AMD as generating upwards of $10.00 in earnings per share by 2027, or a nearly 40% annual growth off of 2023. TD increased its MI300 2024 revenue estimate to $4.5B from $4B, saying ramps at several customers will continue to happen more quickly than typical. AMD remains one of its top picks.

CF Industries and JERA , Japan's largest energy company, announced that they have executed a joint development agreement, or JDA, to explore the development of greenfield low-carbon ammonia production capacity at CF Industries' Blue Point Complex in Louisiana. The JDA will guide JERA and CF Industries' evaluation of a joint venture agreement to build an approximately 1.4M metric ton capacity low-carbon ammonia plant. JERA is contemplating a 48% ownership stake in the project as well as an agreement to procure more than 500,000 metric tons of low-carbon ammonia annually to meet demand for low-carbon fuels in Japan. JERA and CF Industries previously had signed a memorandum of understanding to explore a potential joint project development and sales and purchase of low-carbon ammonia. JERA and CF Industries aim to reach a final investment decision on the proposed project within a year for commencing production in 2028. JERA intends to replace coal with low-carbon clean ammonia in its existing thermal coal power plants to reduce CO2 emissions. JERA is currently conducting the world's first commercial-scale demonstration test of fuel ammonia substitution at its Hekinan Thermal Power Station.

Shares of sleep apnea device makers ResMed (RMD) and Inspire Medical (INSP) are moving in opposite directions after Eli Lilly (LLY) announced topline results of the SURMOUNT-OSA Phase 3 clinical trials, showing tirzepatide injection significantly reduced the apnea-hypopnea index, or AHI, compared to placebo, achieving the primary endpoints of the studies. After initially moving... To see the rest of the story go to thefly.com. See Story Here

Shares of sleep apnea device makers ResMed (RMD) and Inspire Medical (INSP) are slipping in early trading after Eli Lilly (LLY) announced topline results of the SURMOUNT-OSA phase 3 clinical trials that showed tirzepatide injection significantly reduced the apnea-hypopnea index, or AHI, compared to placebo, achieving the primary endpoints of the studies. SURMOUNT-OSA Study 1 evaluated tirzepatide, which Lilly identifies as "the only approved GIP and GLP-1 treatment for chronic weight management, commercialized as Zepbound in the U.S. and Mounjaro in some global markets outside the U.S.," in adults with moderate-to-severe obstructive sleep apnea, or OSA, and obesity who were not on positive airway pressure, or PAP, therapy for 52 weeks. In Wednesday pre-market trading, ResMed shares are down about 3% to $180, while Inspire shares have slipped about 1% to $220.