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Fly News Breaks for June 11, 2019
DENN, BYND, SHLX, SYMC, WFC
Jun 11, 2019 | 10:22 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Underweight from Neutral at Atlantic Equities with analyst John Heagerty. 2. Symantec (SYMC) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Keith Weiss saying his recent survey of Chief Security Officers points to Symantec losing share in endpoint security and web security, which poses risk to its revenue growth guidance. 3. Shell Midstream (SHLX) downgraded to Underperform from Neutral at Credit Suisse with analyst Spiro Dounis noting that lower than anticipated re-contracted Zydeco pipeline rates result in a more challenged financial outlook that likely requires the Sponsor to remain accommodative. 4. Beyond Meat (BYND) downgraded to Neutral from Overweight at JPMorgan analyst Ken Goldman saying the stock at around $168 "requires assumptions we are not yet comfortable with." 5. Denny's (DENN) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson saying that he remains "constructive" on the company's continued "brand rejuvenation" and refranchising program, modeling earning growth accelerating to 31% in 2020 from the projected 9% this year. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,