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Fly News Breaks for February 25, 2016
TILE, EXAS, CNL, RH, RATE
Feb 25, 2016 | 10:21 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Bankrate (RATE) downgraded to Hold and Sector Perform at Topeka and RBC Capital, respectively, following the company's Q4 earnings report. Topeka analyst Blake Harper cited limited visibility, higher customer acquisition costs, and disruption in each business line. 2. Restoration Hardware (RH) downgraded to Neutral and Sector Weight at Baird and KeyBanc, respectively, after the company announced weaker than Q4 results. KeyBanc said it expects 2016 to be a "transition year" for the company as it "optimizes RH Modern and Teen, delays new business and slows its gallery transformations." 3. Cleco (CNL) downgraded to Sell at Ladenburg by analyst Brian Russo, after the Louisiana Public Service Commission voted to reject the company's merger agreement. Russo added that another financial buyer will emerge. 4. Exact Sciences (EXAS) downgraded to Neutral and Equal Weight at Roth Capital and Stephens, respectively, with the analysts saying they have little confidence the company will be able to meet the current 2016 guidance give its Q1 outlook for volumes. 5. Interface (TILE) downgraded to Equal Weight at Barclays by analyst Stephen Kim, who cited a lack of near-term catalysts and a cautious 2016 commercial construction outlook after the company reporter lower than expected sales and orders in Q4. 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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