Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AT&T (T) downgraded to Neutral from Buy at Buckingham with the firm citing valuation, noting that the company's forward P/E multiple has reached its highest level in four years. 2. T-Mobile (TMUS) downgraded to Neutral from Buy at Nomura with analyst Jeffrey Kvaal saying competition should become more difficult in 4Q as iPhone 7 promos ramp and recent commentary by T-Mobile implies higher churn, which will limit net Q2 upside. 3. Accenture (ACN) downgraded to Neutral from Outperform at Credit Suisse with analyst Charles Brennan saying Accenture reported the first slowdown in growth momentum in over 2 years and gross margin weakness that was offset by sales and marketing and G&A savings. 4. Herman Miller (MLHR) downgraded to Hold from Buy at BB&T with the firm citing valuation. 5. Celadon Group (CGI) downgraded to Hold from Buy at Stifel with the firm saying it thinks that the company is being hurt by "soft demand" and weak prices in the trucking and logistics sector. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.