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Fly News Breaks for October 2, 2018
SLB, ABEV, UL, UN, RS, X, COP
Oct 2, 2018 | 10:26 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Goldman downgraded ConocoPhillips (COP) to Neutral following share outperformance with analyst Neil Mehta citing valuation. 2. U.S. Steel (X) and Reliance Steel (RS) were downgraded to Hold from Buy at Deutsche Bank. 3. Unilever (UN, UL) downgraded to Hold from Buy at Jefferies with analyst Martin Deboo saying the company is facing "choppier waters" and "higher expectations." 4. Ambev (ABEV) double downgraded to Sell from Buy at UBS with analyst Alan Alanis saying AmBev trades at a 25% higher valuation than parent company AB InBev (BUD), which is unwarranted. 5. Schlumberger (SLB) downgraded to Hold from Buy at Tudor Pickering. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.