As previously reported, Stifel analyst John Baugh downgraded Caesarstone to Hold from Buy following the company's reduction in revenue and EBITDA guidance on the heels of a "very disappointing" start to the year. He said the company has numerous issues - including a lack of established leadership in the U.S., continued pricing pressure, production inefficiencies in Israel and pressure from raw materials - and Baugh does not see a clear path to turning the business around in the next several quarters. He lowered his price target on Caesarstone shares to $16 from $30.