As previously reported, Morgan Stanley analyst Simeon Gutman downgraded At Home Group to Equal Weight from Overweight and cut his price target for the shares to $8 from $30, stating after the company's recent earnings miss and guidance cut that its headwinds appear less transitory than he'd previously thought. While the stock still screens as inexpensive, he sees elevated execution risk in the near-term and thinks the bear case revolving around the need for investment in e-commerce and slowing in store expansion could hurt the multiple for some time, Gutman tells investors.