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Fly News Breaks for June 7, 2016
DISCA, RLYP, PEG, JBL, GDDY
Jun 7, 2016 | 10:21 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. GoDaddy (GDDY) downgraded to Neutral from Buy at Citi with analyst Mark May citing the recent rally in the shares and expectations for slowing in margin expansion and growth. 2. Jabil (JBL) downgraded to Sell from Neutral at Goldman with analyst Mark Delaney saying he sees downside to fiscal 2017 and fiscal 2018 consensus estimates. 3. PSEG (PEG) downgraded to Underperform from Neutral at BofA/Merrill with analysts led by Brian Chin saying weak capacity auction results indicate the "debottlenecking" of New Jersey's power pricing premium is here, which will lead to weaker margins in the deregulated generation segment. 4. Relypsa (RLYP) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Andrew Berens saying he believes AstraZeneca's (AZN) ZS-9 can address FDA concerns in 4-6 months, and once it reaches the market, will capture over 80% of the hyperkalemia opportunity given a better product profile and much lower expense basis versus Relypsa's Veltassa. 5. Discovery (DISCA) downgraded to Underperform from Market Perform at Bernstein. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.