Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gardner Denver (GDI) downgraded to Neutral from Outperform at Credit Suisse with analyst John Walsh saying he does not see a catalyst to drive the stock higher. 2. Owens-Illinois (OI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Gabe Hajde saying he was wrong as the primary tenant to his thesis, volume growth, is not materializing. 3. Cree (CREE) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster saying the company's "lackluster" Q2 guidance underscores a lack of near-term catalysts. 4. Southwest (LUV) downgraded to Market Perform from Outperform at Bernstein with analyst David Vernon saying he thinks the market is pricing in all the good news on the return of Boeing's (BA) MAX and not appreciating how disruptive its return could be on either the unit revenue or cost fronts. 5. Twilio (TWLO) downgraded to Neutral from Buy at Monness Crespi with analyst Brian White calling the company's mixed Q3 results and weak Q4 outlook "the final straw in what has been a sideways year." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
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