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Fly News Breaks for May 25, 2016
GEF, BCEI, EXPR, BBY, HPE, CSC
May 25, 2016 | 10:18 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CSC (CSC) downgraded to Market Perform at Raymond James by analyst Brian Gesuale, who said the merger with HP Enterprise (HPE) "blows up" his previous beliefs of a $7B business capable of shifting its mix towards higher margin services and a new commercial entity that seemed conducive to takeout. Gesuale recommends taking profits and watching the "chaos" from afar until numbers settle over the next 12 months. 2. Best Buy (BBY) downgraded to Hold at Deutsche Bank with analyst Mike Baker saying he management team transition will make it difficult for the multiple to expand. Baker also said that the retailer's outlook is dependent on industry sales improvements in the second half of year which may not materialize. 3. Express (EXPR) downgraded to Market Perform at BMO Capital based on broader concerns that the macro environment will continue to pressure Express' same-store-sales throughout the year and margin pressure is likely as competitive promotions pick up over the coming months. 4. Bonanza Creek (BCEI) downgraded to Underperform at Imperial Capital by analyst Kim Pacanovsky, who said the company's borrowing base reduction was far more severe than her estimate. 5. Greif (GEF) downgraded to Market Perform at BMO Capital as the firm says that it has doubts about the capabilities of the company's executives other than the CEO, while it's unsure about whether the company's "family dominated board" is capable of facilitating a turnaround. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For CSC;HPE;BBY;EXPR;BCEI;GEF From the Last 2 Days
EXPR
Apr 24, 2024 | 08:31 EDT
New option listings for April 24th include PROSHARES ULTRA BITCOIN ETF (BITU), Five Star Bancorp (FSBC), PROSHARES ULTRASHORT BITCOIN ETF (SBIT), and Sera Prognostics Inc (SERA). Option delistings effective April 24th include Express, Inc. (EXPR).