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Fly News Breaks for November 6, 2019
WW, KEY, PRU, ATUS, GRPN
Nov 6, 2019 | 10:13 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Groupon (GRPN) downgraded to Underweight from Neutral at JPMorgan with analyst Doug Anmuth saying while he is encouraged by the company's efforts toward improving customer conversion, he thinks those efforts will take time to offset traffic and international macro headwinds. 2. Altice USA (ATUS) downgraded to Sector Weight from Overweight at KeyBanc and to Equal Weight from Overweight at Barclays. 3. Prudential (PRU) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Ryan Krueger saying to reflect softer business growth and lower individual annuity margins, he further reduced his estimates for Prudential. 4. KeyCorp (KEY) downgraded to Neutral from Outperform at Baird with analyst David George saying shares have reached his price target and although he is comfortable with the company outlook, he would wait for a better entry point for the shares. George maintained his $19 price target on KeyCorp shares. 5. WW (WW) downgraded to Neutral from Buy at DA Davidson with analyst Linda Weiser saying subscribers exceeded her estimate in the quarter, but that did not translate to gross margin upside, which is concerning given the dampening effect on sales of the studio to digital shift. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.