Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Zillow (Z, ZG) resumed with a Hold from Buy at Stifel with analyst John Egbert saying he sees potential macro headwinds for Zillow given the tight housing supply, rising interest rates, and tax changes. 2. Bloomin' Brands (BLMN) downgraded to Sell from Neutral at Goldman Sachs with analyst Karen Holthouse saying shares are trading near peak historical levels versus peers and "thin pre-tax margins" put the company at risk of estimate volatility around investment. 3. Parker-Hannifin (PH) downgraded to Neutral on valuation at Buckingham with the firm's analyst saying shares reached the firm's $210 price target. 4. McCormick (MKC) downgraded to Sell from Hold at Deutsche Bank with analyst Rob Dickerson saying he believes organic revenue growth expectations in the company's Consumer segment for fiscal years 2018 and 2019 are too high. 5. WNS Holdings (WNS) downgraded to Neutral from Outperform at Baird with analyst David Koning citing its high historical valuation but saying he sees fourth quarter revenues decelerating, which could create a headwind as comps become more difficult. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Jefferies raised the firm's price target on Zillow to $77 from $75 and keeps a Buy rating on the shares. The firm expects upside in Q1, though higher mortgage rates and softer housing data exiting the quarter could encourage Zillow to guide Q2 conservatively. Still, the firm sees tailwinds from new products driving upside to consensus in the coming years, the analyst added in a preview note for the U.S. Internet group.

Raymond James raised the firm's price target on Brinker (EAT) to $54 from $50 and keeps a Strong Buy rating on the shares. The firm maintains a selective stance towards its restaurant coverage universe as industry sales have underwhelmed in recent months, causing Raymond James to increasingly favor stocks it view as having "idiosyncratic factors trading at attractive valuations," such as Brinker, Shake Shack (SHAK), First Watch (FWRG) and Bloomin' Brands (BLMN), the analyst tells investors in a group earnings preview note.

Citi analyst Ryan Potter lowered the firm's price target on WNS Holdings to $62 from $80 and keeps a Buy rating on the shares. The analyst continues to have a cautious view toward the enterprise IT spending environment into the Q1 reports with the demand environment relatively unchanged from late 2023. This includes continued pressures on discretionary spend and delayed decision-making as macro, geopolitical, and some industry-specific concerns remain, the analyst tells investors in a research note.