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Fly News Breaks for May 31, 2018
DSW, CORT, MU, MAA, PCAR
May 31, 2018 | 10:34 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Paccar (PCAR) downgraded to Neutral from Buy at Goldman Sachs with analyst Jerry Revich saying that while U.S. truck spot market indicators have stabilized at new cycle highs amid robust freight demand and a tight trucking labor market, the load-truck ratio - a leading indicator - has declined about 30% over the past 4 months. 2. MAA (MAA) downgraded to Neutral from Buy at BTIG with analyst James Sullivan saying he expects lower relative valuations for Apartment REITs following the "mediocre" quarterly results. 3. Micron (MU) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Joseph Moore saying he believes the continued strength in DRAM looks priced in and the NAND recovery that bulls are looking for in the second half of the year looks "increasingly unlikely." 4. Corcept Therapeutics (CORT) downgraded to Hold from Buy at Stifel with analyst Adam Walsh saying results are due near-term for both Strongbridge Biopharma's (SBBP) Recorlev and Novartis' (NVS) osilodrostat. 5. DSW (DSW) downgraded to Neutral from Positive at Susquehanna with analyst Sam Poser citing limited valuation upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.