Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. B. Riley downgraded Nike (NKE) to Neutral and maintained its $62 price target, with analyst Mitch Kummetz saying Nike basketball has improved sequentially, but is more than offset by running weakness. He expects futures to be flat to down sequentially when Nike reports next month. 2. Telsey Advisory downgraded Viacom (VIAB) to Market Perform from Outperform, as analyst Tom Egan believes a Viacom credit downgrade is a real threat following Moody's lowered its rating outlook to negative from stable last month. Egan said Viacom's fundamentals continue to trail every other major U.S. entertainment company and said a turn-around in FY17 is unlikely. 3. CLSA analyst Man Ho Lam downgraded SouFun (SFUN) to Sell, as he believes secondary brokerage momentum has stalled with GMV and volume down sequentially, and could continue into 2H 2016. 4. Citi analyst Paul Lejuez downgraded Signet Jewelers (SIG) to Neutral from Buy, citing its weakening fundamentals. Zale's weakness in the past two quarters makes him question if that business is likely to close the sales productivity and profit gap versus Kay, as he'd previously assumed was possible, said Lejuez, who cut his price target on Signet shares to $83 from $125. 5. Piper Jaffray analyst Peter Appert downgraded ITT Educational (ESI) to Underweight, stating that the Department of Education's new ban on ITT Education enrolling new students will likely be the "final blow." He assumes the company will face bankruptcy and/or shutdown over next 12 months and cut his price target on ITT shares to $0 from $3. 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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