Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mallinckrodt (MNK) downgraded to Neutral from Overweight at Piper Jaffray with analyst David Amsellem stating last week's developments regarding Acthar in the Medicaid setting, along with as much as a $600M Centers for Medicare & Medicaid Services-related liability, "essentially blew" his prior investment thesis to "smithereens." 2. Nucor (NUE) downgraded to Underperform from Buy at BofA/Merrill with analyst Timna Tanners incorporating a lower near-term forecast for prices, especially for sheet and rebar, and a lower 2021-2022 forecast given expectations for a looming glut in steel. 3. J.Jill (JILL) downgraded to Hold from Buy at Deutsche Bank with analyst Lorraine Hutchinson stating that she expects the stock's multiple to contract due to the company's slower growth. 4. Nutanix (NTNX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Andrew Nowinski citing the company's "continued execution issues," which he attributes partially to increasing competition. 5. Zuora (ZUO) downgraded to Buy from Strong Buy at Needham with analyst Scott Berg saying that the stock could be "dead money" for the next 1-2 quarters, noting that the sales issues are more concerning than the product issues and may require a change in sales leadership. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
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