Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Procter & Gamble (PG) downgraded to Hold from Buy at SunTrust with analyst William Chappell, Jr. predicting that, "foreign exchange headwinds and waning investor appetites for higher yields" will cause the stock "to stay in a trading range in coming quarters." 2. Praxair (PX) downgraded to Underperform from Outperform at CLSA. 3. Bed Bath & Beyond (BBBY) downgraded to Market Perform from Strong Buy at Raymond James with analyst Budd Bugatch saying Bed Bath still has a long runway ahead before it realizes benefits from technology investments, membership program, and recent investments in One Kings Lane and PMall.com. 4. Finish Line (FINL) downgraded to Neutral from Buy at Monness Crespi, to Neutral from Outperform at Wedbush, to Hold from Buy at Canaccord, to Neutral from Buy at B. Riley, and to Neutral from Buy at BofA/Merrill. 5. Red Hat (RHT) downgraded to Hold from Buy at Stifel and to Market Perform from Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Deutsche Bank lowered the firm's price target on Procter & Gamble to $171 from $172 and keeps a Buy rating on the shares following the fiscal Q3 report.

Raymond James raised the firm's price target on Procter & Gamble to $178 from $175 and keeps an Outperform rating on the shares after fiscal Q3 EPS of $1.52 came in well above the firm's estimate and consensus. P&G continues to grow profitability ahead of peers even as top-line growth decelerates, notes the firm, which raised its FY24 EPS estimate to $6.56 from $6.44.

Evercore ISI raised the firm's price target on Procter & Gamble to $177 from $175 and keeps an Outperform rating on the shares. While "understandably" the focus in the earnings call was on the drivers of sales slowing to 3%, comps considered, this 3% rate already marks a rebound versus prior Q2 on a two-year stack and three-year run rate basis, says the analyst, who adds that calendar 2025 Street expectations "strike us as conservative."