Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hertz (HTZ) downgraded to Underperform from Neutral at Credit Suisse by analyst Anjaneya Singh as the analyst believes peer Avis Budget's (CAR) update presents a negative read-through for Hertz's Q4 and 2017 guidance. In an environment that presents weak volume growth, flattish pricing, and inflationary fleet costs, Singh sees Hertz struggling to generate profit growth reflected in consensus estimates. The firm also downgraded Avis Budget to Neutral from Outperform following the company's Q4 results. 2. Charter (CHTR) downgraded to Market Perform after recent rally at Telsey Advisory by analyst Tom Eagan, who has "no doubt" that the company will improve the service metrics at the legacy TWC and Bright House systems, but notes that shares have gained more than 54% since January 2016, with part of the rise fueled by speculation that Verizon (VZ) was interested in an acquisition. While unclear what Verizon's real interest is, "the possibility of a transaction is not grounds" for a multiple on Charter shares that would yield a target in the mid-$370's, Eagen tells investors. 3. Kate Spade (KATE) downgraded to Underperform from Outperform at CLSA by analyst Rick Patel, who benchmarks Kate with Tumi, which was acquired by Samsonite for 13.6x LTM EBITDA. He adds that he views the abbreviated conference call and lack of Q&A as signs the company is "actively in negotiations." 4. Advisory Board (ABCO) downgraded to Neutral from Overweight at JPMorgan by analyst Stephanie Davis, who sees the shares as fairly valued for the potential strategic alternative outcomes. The analyst sees three potential outcomes: a margin-focused restructuring, a sale to a strategic acquirer of all or part of the company, and a sale to a financial sponsor. Her analysis yields a share price range of $47-$59 for the three scenarios. 5. Hain Celestial (HAIN) downgraded to Hold from Buy at Argus by analyst John Staszak, who says that, at a minimum, Hain will have to restate its financials. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Deutsche Bank lowered the firm's price target on Charter Communications to $320 from $375 and keeps a Hold rating on the shares. The firm cites lower free cash flow estimates for the target drop. The 34% year-to-date decline in Charter's stock price arguably prices in a more challenged growth outlook, the analyst tells investors in a research note. However, the firm does not expect a recovery in the shares until the impact from the Affordable Connectivity Program sunsetting is known and there is some visibility into sustained positive broadband subscriber growth coming back into the model.