Today's noteworthy downgrades include: Enphase Energy (ENPH) downgraded to Neutral from Buy at Dougherty... Green Plains (GPRE) downgraded to Equal Weight from Overweight at Stephens... Hertz (HTZ) downgraded to Underweight at Morgan Stanley... Johnson Matthey (JMPLY) downgraded to Neutral from Overweight at JPMorgan... Keryx (KERX) downgraded to Market Perform from Outperform at Cowen... LaSalle Hotel (LHO) downgraded to Hold from Buy at Evercore ISI... Lithia Motors (LAD) downgraded to Neutral from Buy at BofA/Merrill... Michael Kors (KORS) downgraded to Neutral from Buy at Buckingham... Pinnacle Financial (PNFP) downgraded to Market Perform at Keefe Bruyette... Polaris Industries (PII) downgraded on weaiker outlook at RBC Capital... QLogic (QLGC) downgraded to Equal Weight from Overweight at Morgan Stanley... Seagate (STX) downgraded to Underweight from Overweight at Morgan Stanley... Select Income REIT (SIR) downgraded to Underweight from Equal Weight at Morgan Stanley... Spirit Realty (SRC) downgraded to Equal Weight from Overweight at Morgan Stanley... St. Jude Medical (STJ) downgraded on valuation at BMO Capital... Texas Capital (TCBI) downgraded to Hold from Buy at Drexel Hamilton... Thoratec (THOR) downgraded to Market Perform from Outperform at Wells Fargo... Trustco Bank (TRST) downgraded to Underperform from Market Perform at Keefe Bruyette... WesBanco (WSBC) downgraded to Market Perform from Outperform at FBR Capital... Western Digital (WDC) downgraded to Equal Weight from Overweight at Morgan Stanley... Williams (WMB) downgraded to Hold from Buy at Jefferies... XOMA (XOMA) downgraded to Hold from Buy at Jefferies.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Deutsche Bank analyst Chris Woronka lowered the firm's price target on Hertz (HTZ) to $6 from $10 and keeps a Hold rating on the shares. The Q1 car rental results are likely to confirm what all relevant data points have been pointing to since January: it will be a weak quarter across the board, the analyst tells investors in a research. However, the firm believes strongly that Q1 will prove to be the trough of the post-COVID correction cycle. It has a "clear preference" for owning Avis (CAR) over Hertz, saying the latter's recent CEO change introduces near-term risks associated with potential strategic pivots.

Enphase Energy announced the launch of the IQ Combiner Lite in the Netherlands to simplify installation and commissioning of small-scale solar installations on homes categorized as "social housing," where rent is capped by the Dutch government to increase accessibility for people with low incomes.

Q1 EPS included an 8c per diluted share legal settlement expense, FDIC special assessment expense of 5c per diluted share and 3c per diluted share of restructuring expenses. Reports Q1 loan loss provision $19.0M vs. $19.0M for 4Q23. Q1 net charge-offs were $10.8M vs. $13.8M and $19.9M during 4Q23 and 1Q23, respectively. Tangible book value per share was $ 61.06 from $61.34 at previous quarter end. "We continue to leverage our unique balance sheet positioning and maturing product capabilities to build an enduring and valuable franchise," said Rob C. Holmes, CEO. "Quality quarterly growth in areas of focus coupled with strong firm-wide pipelines signal emerging momentum moving into Q2."

Wolfe Research downgraded Williams to Underperform from Peer Perform with a $34 price target. The company "has had challenges" with a disappointing 2024-2025 outlook in February, weak gas prices, and large gas production cuts, the analyst tells investors in a research note. Despite this, the stock has kept pace with peers year-to-date on early hopes for a gas recovery and data center buzz, says Wolfe. The firm cites relative valuation for the downgrade.

Guggenheim analyst Ronald Jewsikow lowered the firm's price target on Lithia & Driveway to $297 from $320 and keeps a Buy rating on the shares. The firm updated estimates for its auto supplier and auto dealer coverage ahead of Q1 results from the group.

BofA raised the firm's price target on Western Digital to $85 from $75 and keeps a Buy rating on the shares. The firm sees both the HDD and NAND businesses being close to the bottom of the cycle and sees a potential unlock of shareholder value as the company remains on track to split the HDD and NAND business in the second half of 2024.