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Fly News Breaks for October 15, 2018
MNST, DLPH, KLAC, NTRI, ROK, PH
Oct 15, 2018 | 10:29 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Parker-Hannifin (PH) and Rockwell Automation (ROK) were downgraded to Underperform from Market Perform at Cowen. 2. Nutrisystem (NTRI) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser saying she is less confident in the company being able to achieve the over 30% growth in Q4 EBITDA implied by its guidance and believes that the management could cut its outlook, citing "anecdotal evidence" that "steep" price discounting of as high as 29% may be continuing for Nutrisystem's reactivation customers. 3. KLA-Tencor (KLAC) downgraded to In Line from Outperform at Evercore ISI with analyst CJ Muse saying his recent data suggest that WFE orders are tracking to fall about 10% to $45B in FY19, but the decline could be as high as 20% if memory spending does not recover from the DRAM inventory glut-driven slump. 4. Delphi Technologies (DLPH) downgraded to Equal Weight at Morgan Stanley with analyst Armintas Sinkevicius citing the "surprise" CEO transition, stating that the reasons for the change at the top are not clear. 5. Monster Beverage (MNST) downgraded to In Line from Outperform at Evercore ISI with analyst Robert Ottenstein saying he sees fitness/sports energy drinks being poised to take share from traditional energy drinks. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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