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Fly News Breaks for February 20, 2020
CTL, WDAY, ALLY, AMD, BE, BUD
Feb 20, 2020 | 10:07 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AB InBev (BUD) downgraded to Underweight from Neutral at JPMorgan with analyst Celine Pannuti saying despite a "more benign" input cost environment, 2020 is shaping up to remain challenging for the company, leading to pressure on both gross margin and EBITDA. 2. Bloom Energy (BE) downgraded to Market Perform from Outperform at Raymond James with analyst Pavel Molchanov citing valuation. 3. AMD (AMD) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Aaron Rakers saying he is positive on AMD's competitive positioning and share gain story. However, at current levels, and based on his new sum-of-the-parts analysis, he believes the shares approaching levels that present a more balanced risk/reward. 4. Workday (WDAY) downgraded to Sell from Hold at Societe Generale. 5. CenturyLink (CTL) downgraded to Underperform from Neutral at BofA with analyst David Barden saying that with the exception of encouraging positive momentum in the company's Enterprise and IGAM segments, its business remains structurally challenged, and he expects the stock to trade range-bound with a downward bias. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.