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Fly News Breaks for October 19, 2016
CPS, GCO, NCLH, CREE, WFC
Oct 19, 2016 | 10:33 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Market Perform from Outperform at FBR Capital with analyst Paul Miller saying the shares will be range-bound pending greater clarity into the ongoing regulatory investigations and recently announced independent audit. 2. Cree (CREE) downgraded to Equal Weight from Overweight at Stephens with analyst Harsh Kumar citing his belief that the growth as well margin progression has been slower than expected since the ERP issues that hit the company earlier this year. 3. Norwegian Cruise Line (NCLH) downgraded to Hold from Buy at SunTrust with analyst Patrick Scholes citing a recent pricing survey that indicates a broad based slowdown across all global regions. 4. Genesco (GCO) downgraded to Buy from Strong Buy at CL King. 5. Cooper-Standard (CPS) downgraded to Hold from Buy at Jefferies with analyst Bret Jordan saying the valuation looks full with the shares up 23% year-to-date. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.