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Fly News Breaks for August 11, 2016
QHC, LRCX, PSA, BMY, WEN
Aug 11, 2016 | 10:20 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wendy's (WEN) downgraded to Buy from Conviction Buy at Goldman with analyst Karen Holthouse citing execution risk and the potential for additional fiscal 2016 same-store sales guidance reductions. 2. Bristol-Myers (BMY) downgraded to Hold from Buy at Berenberg. 3. Public Storage (PSA) downgraded to Neutral from Buy at BofA/Merrill with analyst Jeffery Spector citing valuation and increasing concessions in weaker markets. 4. Lam Research (LRCX) downgraded to Neutral from Buy at Nomura with analyst Romit Shah citing the extended timeline for its merger with KLA-Tencor (KLAC) after the Department of Justice requested more information. 5. Quorum Health (QHC) downgraded to Sell from Neutral at UBS with analyst A.J. Rice saying the company's earnings power is "much less than thought" after its second quarter results missed expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For WEN;BMY;PSA;LRCX;QHC From the Last 2 Days
PSA
Mar 28, 2024 | 04:47 EDT
Raymond James analyst Jonathan Hughes double upgraded Public Storage to Strong Buy from Market Perform with a $330 price target. The analyst believes the company's recent revenue growth outperformance can be sustained versus peers due to more rent upside after less-aggressive rate increases over the past several years. The firm also expects Public Storage's revenue growth to inflect positively by mid-year, likely sooner than peers.