Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Yelp (YELP) downgraded to Sector Weight from Overweight at KeyBanc analyst Brad Erickson saying his latest customer checks, combined with updated views of Request a Quote, diminish his prior views for upside potential in the name. 2. Macy's (M) downgraded to Neutral from Overweight at Atlantic Equities while Kohl's (KSS) was downgraded to Underweight from Neutral. 3. BHP Billiton (BHP) and BHP Billiton plc (BBL) were downgraded to Neutral from Buy at BofA/Merrill. 4. Trimble (TRMB) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Jerry Revich saying while he is still bullish on the long-term outlook for rising adoption rates of Trimble's core productivity-enhancing software and hardware, he views the company's key end-markets as more balanced now. 5. Ambarella (AMBA) downgraded to Perform from Outperform at Oppenheimer with analyst Andrew Uerkwitz citing the company's Q1 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

BHP Group (BHP) is weighing a possible acquisition of Anglo American (NGLOY), Bloomberg's Crystal Tse, Dinesh Nair, and Thomas Biesheuvel report, citing people with knowledge of the matter. The company has recently been evaluating the possibility of an offer for Anglo American, the authors note. Reference Link

Jefferies raised the firm's price target on Yelp to $43 from $42 and keeps a Hold rating on the shares. In a preview note for the U.S. Internet group, the firm says it will be looking for signs of sustainability in elevated ARPU growth at Yelp, especially as locations/app MAUs remain in decline.

JPMorgan lowered the firm's price target on BHP Group to 2,650 GBp from 2,700 GBp and keeps a Neutral rating on the shares.