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PG

Procter & Gamble

$84.34

0.06 (0.07%)

, PX

Praxair

$116.52

-2.01 (-1.70%)

10:18
12/22/16
12/22
10:18
12/22/16
10:18

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Procter & Gamble (PG) downgraded to Hold from Buy at SunTrust with analyst William Chappell, Jr. predicting that, "foreign exchange headwinds and waning investor appetites for higher yields" will cause the stock "to stay in a trading range in coming quarters." 2. Praxair (PX) downgraded to Underperform from Outperform at CLSA. 3. Bed Bath & Beyond (BBBY) downgraded to Market Perform from Strong Buy at Raymond James with analyst Budd Bugatch saying Bed Bath still has a long runway ahead before it realizes benefits from technology investments, membership program, and recent investments in One Kings Lane and PMall.com. 4. Finish Line (FINL) downgraded to Neutral from Buy at Monness Crespi, to Neutral from Outperform at Wedbush, to Hold from Buy at Canaccord, to Neutral from Buy at B. Riley, and to Neutral from Buy at BofA/Merrill. 5. Red Hat (RHT) downgraded to Hold from Buy at Stifel and to Market Perform from Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

PG

Procter & Gamble

$84.34

0.06 (0.07%)

PX

Praxair

$116.52

-2.01 (-1.70%)

BBBY

Bed Bath & Beyond

$45.56

-0.64 (-1.39%)

FINL

Finish Line

$21.00

-2.01 (-8.74%)

RHT

Red Hat

$68.89

-10.9 (-13.66%)

  • 15

    Jan

PG Procter & Gamble
$84.34

0.06 (0.07%)

12/21/16
STFL
12/21/16
DOWNGRADE
STFL
Hold
Procter & Gamble downgraded on multiple negative catalysts at Stifel
As noted earlier, Stifel downgraded Procter & Gamble to Hold from Buy. As reasons for the downgrade, analyst Astrachan cited "recent negative FX movement, moderate anticipated input cost inflation, and continued heightened geopolitical uncertainty." He believes that these negative catalysts will cause the stock to remain rangebound for the next six to twelve months. Target to $86 from $88.
12/22/16
RHCO
12/22/16
DOWNGRADE
RHCO
Hold
Procter & Gamble downgraded on negative catalysts at SunTrust
As noted earlier, SunTrust downgraded Procter & Gamble to Hold from Buy. Analyst William Chappell, Jr. predicts that, "foreign exchange headwinds and waning investor appetites for higher yields" will cause the stock "to stay in a trading range in coming quarters." Target to $85 from $95.
12/22/16
RHCO
12/22/16
DOWNGRADE
RHCO
Hold
Procter & Gamble downgraded to Hold from Buy at SunTrust
12/21/16
12/21/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Procter & Gamble (PG) downgraded to Hold from Buy at Stifel with analyst Astrachan citing "recent negative FX movement, moderate anticipated input cost inflation, and continued heightened geopolitical uncertainty." 2. JetBlue (JBLU) downgraded to Market Perform from Outperform at Raymond James with analyst Savanthi Syth saying shares will be range bound near-term due to RASM pressures from capacity growth new market expansion, and increased cost inflation. 3. Barrick Gold (ABX) downgraded to Hold from Buy at TD Securities analyst Greg Barnes saying shares have significantly outperformed in 2016 and sees fewer company-specific catalysts in 2017. 4. New York Community Bancorp (NYCB) and Astoria Financial (AF) were downgraded to Underperform at FBR Capital. 5. Goldman Sachs (GS) and U.S. Bancorp (USB) were downgraded to Neutral from Overweight at Atlantic Equities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PX Praxair
$116.52

-2.01 (-1.70%)

12/22/16
LYON
12/22/16
DOWNGRADE
LYON
Underperform
Praxair downgraded to Underperform from Outperform at CLSA
12/21/16
MONN
12/21/16
UPGRADE
MONN
Buy
Air Products upgraded on industry consolidation at Monness Crespi
As noted earlier, Monness Crespi upgraded Air Products (APD) to Buy from Neutral. Following the announcement of the merger between Praxair (PX) and Linde, the firm thinks that Air Products will benefit from consolidation in the industry. It says that Air Products' balance sheet will enable it to "easily bid on and win new projects" and exploit divestitures in the sector. Additionally, Air Products is in a better position than its competitors who are involved in large transactions or integrations, according to the firm. Target $167.
08/16/16
JEFF
08/16/16
NO CHANGE
Target $140
JEFF
Buy
Jefferies sees 20% probability of Praxair, Linde merger
Following the Wall Street Journal's report last night, Jefferies analyst Laurence Alexander pegs a potential merger between Praxair (PX) and Linde (LNEGY) at 20%. The analyst estimates Praxair could pay a 26% control premium, 50% equity, and still achieve an 8% return on invested capital in the third year and improve free cash flow per share by $1.70. Alexander has a Buy rating on Praxair with a $140 price target.
12/14/16
VERT
12/14/16
UPGRADE
Target $120
VERT
Hold
Praxair upgraded to Hold from Sell at Vertical Research
Vertical Research analyst Kevin McCarthy upgraded Praxair (PX) to Hold and raised its price target to $120 from $109 saying the probability of a combination with Linde AG are rising and a deal is strategically sensible and accretive.
BBBY Bed Bath & Beyond
$45.56

-0.64 (-1.39%)

12/22/16
RAJA
12/22/16
DOWNGRADE
RAJA
Market Perform
Bed Bath & Beyond downgraded to Market Perform from Strong Buy at Raymond James
Raymond James analyst Budd Bugatch downgraded Bed Bath & Beyond to Market Perform from Strong Buy following the Q3 sales and earnings miss. The analyst said Bed Bath still has a long runway ahead before it realizes benefits from technology investments, membership program, and recent investments in One Kings Lane and PMall.com. Bugatch recommends moving to the sidelines until gross margins and operating expenses stabilize and the benefits of incremental investments are quantifiable.
12/20/16
12/20/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Amgen (AMGN) downgraded to Neutral from Outperform at Credit Suisse with analyst Alethia Young saying she has a lower conviction in the base business and sees limited upside to positive PCSK9 outcomes in the first quarter of 2017 given high expectations. 2. Bed Bath & Beyond (BBBY) downgraded to Underperform from Neutral at Cleveland Research with analyst Daryl Boehringer citing checks that indicate comp trends remain "uninspiring" given declining traffic, online migration, lack of market share gains. 3. Sibanye Gold (SBGL) downgraded to Sell from Hold at Deutsche Bank with analyst Patrick Mann saying he expects a "challenging" 2017 for the company as EBITDA declines. 4. Cempra (CEMP) downgraded to Sell from Buy at SunTrust with analyst Edward Nash saying says he expects the FDA to provide complete response letters for the company's solithromycin treatment due to manufacturing issues. 5. Acuity Brands (AYI) downgraded to Neutral from Outperform at Baird with analyst Timothy Wojs saying he believes a near-term demand lull could keep the stock range bound over the next couple of quarters, leaving a thin margin for error. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/20/16
CLVD
12/20/16
DOWNGRADE
CLVD
Underperform
Bed Bath & Beyond downgraded to Underperform from Neutral at Cleveland Research
Cleveland Research analyst Daryl Boehringer downgraded Bed Bath & Beyond to Underperform following checks that indicate comp trends remain "uninspiring" given declining traffic, online migration, lack of market share gains. The analyst sees Q3 comps flat to slightly below consensus of +.4% and continues to see comp risk over the near-term and said it appears traffic has slowed noticeably over the last six weeks.
06/23/16
OPCO
06/23/16
NO CHANGE
OPCO
Perform
Bed Bath & Beyond continues to struggle, says Oppenheimer
Oppenheimer analyst Brian Nagel says Bed Bath & Beyond's weaker than expected Q1 results and more downbeat fiscal year 2016 outlook reflect ongoing struggles at the company. While the analyst remains optimistic that over the longer term Bed, Bath & Beyond will find the right formula to compete effectively online while protecting industry leading margins, he expects the current transition at the company to persist for a while and fuel choppiness in results. Nagel reiterates a Perform rating on the shares.
FINL Finish Line
$21.00

-2.01 (-8.74%)

12/22/16
BARD
12/22/16
NO CHANGE
Target $21
BARD
Neutral
Finish Line weakness a buying opportunity, says Baird
Baird analyst Jonathan Komp said he would be a buyer of Finish Line on its weakness following Q3 results. The analyst said management sounded positive regarding its pipeline and good visibility into the second half of 2017. Komp maintained his Neutral rating and $21 price target on Finish Line shares.
12/22/16
WEDB
12/22/16
DOWNGRADE
WEDB
Neutral
Finish Line downgraded to Neutral from Outperform at Wedbush
12/22/16
WEDB
12/22/16
DOWNGRADE
WEDB
Neutral
Finish Line downgraded on Q3 miss, guidance cut at Wedbush
As noted earlier, Wedbush downgraded Finish Line to Neutral from Outperform. Analyst Christopher Svezia downgraded the stock based on the company's Q3 miss and guidance cut. Target to $20 from $25.
12/22/16
MONN
12/22/16
DOWNGRADE
MONN
Neutral
Finish Line downgraded to Neutral from Buy at Monness Crespi
RHT Red Hat
$68.89

-10.9 (-13.66%)

12/22/16
SPHN
12/22/16
NO CHANGE
Target $82
SPHN
Overweight
Red Hat price target lowered to $82 from $90 at Stephens
Stephens analyst Jonathan Ruykhaver lowered his price target for Red Hat to $82 from $90 after the company reported Q3 results below expectations, but noting they were adversely affected by some optical challenges. Nonetheless, the analyst maintains his belief Red Hat's industry leading Linux distribution, cloud computing portfolio, and industry mega-trends position the company for sustained organic growth. He reiterates an Overweight rating on the shares.
12/22/16
OPCO
12/22/16
NO CHANGE
Target $88
OPCO
Outperform
Oppenheimer remains positive on Red Hat after results
After Red Hat reported mixed results/guidance, Oppenheimer analyst Ittai Kidron notes that "one quarter does not make a trend," and the weakness appears largely due to a combination of a number of factors, none of which he believes reflect on the company's longer term business outlook. The analyst maintains his positive view, with deals metrics "largely solid" despite delayed government deals, and says he still sees upside as Red Hat drives continued expansion through up-sell opportunities. He reiterates an Outperform rating and $88 price target on the shares.
12/22/16
STFL
12/22/16
DOWNGRADE
Target $70
STFL
Hold
Red Hat downgraded to Hold from Buy at Stifel
Stiflel analyst Brad Reback downgraded Red Hat to Hold and lowered its price target to $70 from $87 citing the disappointing Q3 report. Billings growth of $679.4M grew only 8.7% year-over-year-CC, the lowest CC billings growth rate in at least 11 quarters, the analyst wrote. Reback is increasingly concerned that emerging areas of OpenStack and OpenShift are likely to remain niche products, combined with the "explosive" growth by hyperscale clout providers, is likely to limit Red Hat's future upside.
12/22/16
NEED
12/22/16
NO CHANGE
Target $89
NEED
Buy
Red Hat price target lowered to $89 from $98 at Needham
Needham analyst Scott Zeller lowered his price target for Red Hat to $89 from $98 after quarterly results, which were impacted by numerous factors including f/x headwinds, a reluctance to pay up-front in multi-year deals, and federal space weakness. Nonetheless, he believes the underlying strength of the franchise remains solid, and continues to like Red Hat's secular strength and believes shares may rebound in Q4 when billings are guided to be "mid-teens." Zeller reiterates a Buy rating on the shares.

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RCII

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$13.05

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$160.95

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ALGN

Align Technology

$178.46

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Time Inc.

$13.00

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PRU

Prudential

$104.37

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DDAIF

Daimler AG

$71.07

0.08 (0.11%)

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$31.23

-0.146 (-0.47%)

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DDAIF

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$71.07

0.08 (0.11%)

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BMW

$31.23

-0.146 (-0.47%)

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CRM

Salesforce

$91.84

-0.4 (-0.43%)

11:25
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Salesforce call volume above normal and directionally bullish »

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$NSD

NASDAQ Market Internals

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ADP

ADP

$111.10

-0.48 (-0.43%)

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Pershing calls ADP's corporate structure 'bloated and complex' »

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$NYE

NYSE Market Internals

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GFI

Gold Fields

$4.15

0.145 (3.63%)

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CTL

CenturyLink

$20.05

-0.85 (-4.07%)

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PPG

PPG

$103.80

0.06 (0.06%)

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DERM

Dermira

$23.34

-0.24 (-1.02%)

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Vipshop

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-0.73 (-6.58%)

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  • 17

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ADP

ADP

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-0.48 (-0.43%)

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BA

Boeing

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SPX

S&P 500

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MTB

M&T Bank

$157.36

-1.24 (-0.78%)

11:07
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