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Fly News Breaks for October 18, 2018
WING, ENLK, YUM, GPS, IBM
Oct 18, 2018 | 10:28 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. IBM (IBM) downgraded to Hold from Buy at Argus with analyst James Kelleher saying the company's growth prospects are "fading." 2. Gap (GPS) downgraded to Underweight from Neutral at JPMorgan with analyst Matthew Boss saying the timeframe for sequential same-store-sales improvement at the Gap brand and a return to the "momentum" last seen in the second half of 2017 is now less certain as the brand grapples with operational issues and an "assortment imbalance." 3. Yum! Brands (YUM) downgraded to In Line from Outperform at Evercore ISI with analyst Matt McGinley saying the recent move in shares have placed its valuation closer to the top of its peer franchised peers. 4. EnLink Midstream Partners (ENLK) downgraded to Neutral from Buy at Citi with analyst Mirek Zak citing valuation. 5. Wingstop (WING) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst John Glass citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.