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Fly News Breaks for April 7, 2016
ITG, HTLD, BIND, VZ, TILE
Apr 7, 2016 | 10:23 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Interface (TILE) downgraded to Underweight at Barclays by analyst Stephen Kim, who cited the trend in housing to downsize. 2. Verizon (VZ) downgraded to Hold and Market Perform at Jefferies and Bernstein, respectively. Jefferies analyst Mike McCormack said there is a lack of near-term catalysts to drive upside to estimates and the stock's valuation. 3. Bind Therapeutics (BIND) downgraded to Market Perform at JMP Securities and Cowen citing limited visibility and cash amid the company's restructuring and plans to refocus on delivering novel therapeutic payloads. 4. Heartland Express (HTLD) downgraded to Sector Weight at KeyBanc citing valuation and softer pricing dynamics. 5. ITG (ITG) downgraded to Neutral at JPMorgan by analyst Kenneth Worthington, who cited the slowdown in trading volume and commissions as well as the recent appreciation of the shares. 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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