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Fly News Breaks for March 4, 2016
BCS, HRB, MON, KR, CPLP
Mar 4, 2016 | 09:53 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Capital Product (CPLP) downgraded two notches to Underperform at BofA/Merrill citing increased county-party uncertainty. The firm said reports indicate HMM will renegotiate charter rates, which could cause Capital Product's distribution coverage to fall below 1x. 2. Kroger (KR) downgraded to Underperform at Macquarie by analyst Bob Summers, after the company reported "disappointing" Q4 and FY16 same-store sales guidance. 3. Monsanto (MON) downgraded to Sell at Goldman with analyst Robert Koort saying soft agriculture fundamentals present "substantial headwinds" to the company's 20%-plus annual earnings growth target. 4. H&R Block (HRB) downgraded to Neutral and Market Perform at Wedbush and BMO Capital, respectively, with analysts saying volume growth this tax season seems unlikely. Wedbush analyst Gil Luria said the company's early season results have been disappointing. 5. Barclays (BCS) downgraded to Hold at Deutsche Bank citing limited CET1 ratio and tangible book value growth in 2016. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.