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Fly News Breaks for March 9, 2017
VRTU, TVPT, ARA, RMAX, CASY
Mar 9, 2017 | 10:23 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Casey's General Stores (CASY) downgraded to Neutral from Buy at Northcoast. 2. RE/MAX Holdings (RMAX) downgraded to Sell from Neutral at Compass Point. 3. American Renal Associates (ARA) downgraded to Market Perform at Wells Fargo with analyst Gary Lieberman saying the company's 2017 is uncertain. Management said there could be additional pressure on commercial contracts while the lack of EBITDA guidance is a concern, Lieberman tells investors in a research note. He lowered his price target range for the shares to $17-$19 from $22-$26. 4. Travelport (TVPT) downgraded to Neutral from Buy at UBS with analyst Eric Sheridan saying the company's near-term investments will "place a lid" on the shares. The analyst believes the stock will be "stuck in a trading range" pending greater clarity on forward revenue growth. He cut his price target for the shares to $13 from $18. 5. Virtusa (VRTU) downgraded to Hold from Buy at Maxim with analyst Brian Kinstlinger saying he believes slower industry growth and a need to invest in digital and cloud will cap margin expansion in fiscal 2018 and thinks caution is warranted ahead of the company's fiscal year guidance. He added that he expects the company's FY18 guidance to be "meaningfully" below the current consensus view. 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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