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Fly News Breaks for March 17, 2016
HOT, SXE, HP, CMG, CTL
Mar 17, 2016 | 10:20 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CenturyLink (CTL) downgraded to Underperform at Jefferies by analyst Mike McCormack, who said the stock's rally is unwarranted as investors hoping for signs of revenue stabilization are likely to be disappointed. 2. Chipotle (CMG) downgraded to Underperform at Jefferies with analyst Andy Barish saying he believes the company's turnaround efforts will "take much longer than expected and be more costly." Barish cites "highly limited" visibility for why his Chipotle estimates are below the consensus. 3. Helmerich & Payne (HP) downgraded to Underweight at Morgan Stanley by analyst Ole Slorer, who cited substantial valuation premium and sees limited cyclical upside versus peers. 4. Southcross Energy Partners (SXE) downgraded to Underweight at JPMorgan with analyst Andrew Burd saying he prefers to "wait and see" after the company said it does not expect to remain in compliance with all credit facility financial covenants throughout 2016 absent continued sponsor equity cures. 5. Starwood (HOT) downgraded to Equal Weight and Neutral at Morgan Stanley and Nomura, respectively. Morgan Stanley analyst Thomas Allen said shares are within 5% of the recent Anbang takeout offer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.