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Fly News Breaks for September 12, 2018
CSFL, AYI, SNAP, NXPI, MU
Sep 12, 2018 | 10:21 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Micron (MU) downgraded to Neutral from Buy at Goldman Sachs with analyst Mark Delaney seeing weaker fundamentals for DRAM and NAND in calendar Q4 and the first half of 2019. 2. NXP Semiconductors (NXPI) downgraded to Sell from Hold at Stifel wit hanalyst Tore Svanberg arguing that multiple recent industry data points seem to suggest the analog and mixed-signal semiconductor markets are peaking. 3. Snap (SNAP) downgraded to Sell from Neutral at BTIG with analyst Richard Greenfield saying his previous assumption that "communications apps were sticky and would protect engagement" was incorrect. 4. Acuity Brands (AYI) downgraded to Sell from Neutral at Goldman Sachs with analyst Brian Lee seeing three key issues emanating around margin risk: mix, costs, and pricing power. 5. CenterState Bank (CSFL) downgraded to Hold from Buy at Sandler O'Neill with analyst Stephen Scouten saying further near-term upside "appears minimal" from current valuation levels. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.