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Fly News Breaks for March 31, 2017
JELD, VRNT, RCII, NDAQ, GLW
Mar 31, 2017 | 10:23 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Corning (GLW) downgraded to Neutral from Buy at Citi with analyst Stanley Kovler saying that while near-trends remain favorable, he sees limited upside to earnings estimates in 2018. The analyst believes the current valuation reflects the solid trends. He raised his price target for the shares to $29 from $28. 2. Nasdaq (NDAQ) downgraded to Sector Perform from Outperform at RBC Capital with analyst Peter Lenardo saying he believes upside is limited given operating margin pressures, moderating near-term growth, and increasing competition. 3. Rent-A-Center (RCII) downgraded to Underweight from Equal Weight at Stephens with analyst Vincent Caintic saying he worries that its share price reflects an optimistic view on near-term performance versus a number of near-term headwinds. 4. Verint (VRNT) downgraded to In-Line from Outperform at Imperial Capital with analyst Jeff Kessler citing valuation following the company's fourth quarter results. 5. JELD-WEN Holding (JELD) downgraded to Neutral from Outperform at Wedbush with analyst Al Kaschalk telling investors shares reflect near-term catalysts and maintained its $34 price target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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