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BW

Babcock & Wilcox

$3.04

0.13 (4.47%)

, INN

Summit Hotel Properties

$15.17

-0.37 (-2.38%)

10:43
08/14/17
08/14
10:43
08/14/17
10:43

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Babcock & Wilcox (BW) downgraded to Neutral from Buy at UBS with analyst Steven Fisher citing lower earnings, ongoing project issues and more debt on the balance sheet following the company's second quarter results. The analyst cut his price target for the shares to $3 from $13. 2. Summit Hotel Properties (INN) downgraded to Underperform from Buy at BofA/Merrill. 3. Pure Storage (PSTG) downgraded to Hold from Buy at Maxim with analyst Nehal Chokshi saying he believes Flash Blade's "lack of depth of data management features" presents risk to meeting guidance of accelerating year-over-year growth. 4. CNO Financial (CNO) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Nigel Dally saying valuation is full with shares near all-time highs and has concerns about deteriorating sales and management's tempered expectations around ROE growth. 5. Acushnet Holdings (GOLF) downgraded on growth concerns at DA Davidson with analyst Andrew Bruns citing his increased caution on the growth outlook of its Club, FootJoy and Performance units. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

BW

Babcock & Wilcox

$3.04

0.13 (4.47%)

INN

Summit Hotel Properties

$15.17

-0.37 (-2.38%)

PSTG

Pure Storage

$12.57

-0.0962 (-0.76%)

CNO

CNO Financial

$23.04

-0.1 (-0.43%)

GOLF

Acushnet Holdings

$15.96

0.37 (2.37%)

  • 15

    Aug

  • 24

    Aug

BW Babcock & Wilcox
$3.04

0.13 (4.47%)

03/02/17
FBCO
03/02/17
NO CHANGE
Target $10
FBCO
Underperform
Babcock & Wilcox price target lowered to $10 from $16 at Credit Suisse
Credit Suisse analyst Jamie Cook lowered his price target for Babcock & Wilcox to $10 from $16 after the company's Q4 estimates miss related to cost overruns on seven projects within the Renewable segment. The analyst reiterates an Underperform rating on the shares.
03/03/17
UBSW
03/03/17
NO CHANGE
Target $14
UBSW
Buy
Babcock & Wilcox price target lowered to $14 from $20 at UBS
UBS analyst Steven Fisher lowered his price target on Babcock & Wilcox to $14 from $20 following Q4 results. The analyst called the quarter challenging as the company cited execution issues on a renewable plant in Europe. Fisher reduced his price target to reflect more debt on the balance sheet and a lower multiple. Fisher maintained his Buy rating on Babcock & Wilcox shares.
03/06/17
JRCO
03/06/17
DOWNGRADE
JRCO
Accumulate
Babcock & Wilcox downgraded to Accumulate from Buy at Johnson Rice
08/14/17
UBSW
08/14/17
DOWNGRADE
Target $3
UBSW
Neutral
Babcock & Wilcox downgraded to Neutral from Buy at UBS
UBS analyst Steven Fisher downgraded Babcock & Wilcox to Neutral citing lower earnings, ongoing project issues and more debt on the balance sheet following the company's Q2 results. The analyst cut his price target for the shares to $3 from $13.
INN Summit Hotel Properties
$15.17

-0.37 (-2.38%)

08/14/17
BOFA
08/14/17
DOWNGRADE
BOFA
Underperform
Summit Hotel Properties downgraded to Underperform from Buy at BofA/Merrill
07/14/17
RAJA
07/14/17
DOWNGRADE
RAJA
Market Perform
Summit Hotel downgraded to Market Perform from Outperform at Raymond James
05/25/17
ADAM
05/25/17
NO CHANGE
Target $20
ADAM
Buy
Summit Hotel Properties set to grow into its valuation, says Canaccord
Canaccord analyst Ryan Meliker attended the Summit Hotel Properties investor day and came away confident if management executes its acquisition it should drive the shares higher. He believes given the company's growth profile, the shares are set to grow into and beyond its current valuation in relatively short order. Meliker reiterated his Buy rating and raised his price target to $20 from $18 on Summit Hotel Properties shares.
07/17/17
RAJA
07/17/17
DOWNGRADE
RAJA
Market Perform
Summit Hotel Properties downgraded to Market Perform from Outperform at Raymond James
Raymond James analyst William Crow downgraded Summit Hotel Properties to Market Perform given "remarkable relative outperformance" and potential supply pressures in many urban tracts that could peak in 2018 and suburban markets in 2019.
PSTG Pure Storage
$12.57

-0.0962 (-0.76%)

07/12/17
JEFF
07/12/17
NO CHANGE
Target $125
JEFF
Underperform
IBM price target lowered to $125 from $135 at Jefferies
Jefferies analyst James Kisner lowered his price target for IBM (IBM) to $125 and reiterates an Underperform rating on the shares. While channel checks indicate IBM's Watson platform remains one of the most complete cognitive platforms available in the marketplace today, the "hefty services" component of many artificial intelligence deployments will be a hindrance to adoption, Kisner tells investors in a research note titled "Creating Shareholder Value with AI? Not so Elementary, My Dear Watson." The analyst also believes IBM looks "outgunned in the war" for AI talent and will likely see increasing competition. Kisner adds that his firm believes Nvidia (NVDA) is the biggest beneficiary of ramping AI adoption. He lists Pure Storage (PSTG) and Mellanox (MLNX) as other beneficiaries.
07/13/17
KEYB
07/13/17
NO CHANGE
KEYB
Pure Storage, Nutanix updates should increase deal sizes, says KeyBanc
KeyBanc analyst Alex Kurtz says new software capabilities announced by Pure Storage (PTSG) and Nutanix (NTNX) in the last month should enable their deal sizes to rise by "at least 30%" in some cases. He keeps Overweight ratings on both stocks.
08/14/17
MAXM
08/14/17
DOWNGRADE
Target $15
MAXM
Hold
Pure Storage downgraded to Hold from Buy at Maxim
Maxim analyst Nehal Chokshi downgraded Pure Storage (PSTG) to Hold and cut his price target for the shares to $15 from $20. The analyst believes Flash Blade's "lack of depth of data management features" presents risk to meeting guidance of accelerating year-over-year growth. The analyst this morning also upgraded NetApp (NTAP) to Buy.
06/14/17
JMPS
06/14/17
NO CHANGE
JMPS
Pure Storage targets mixed, says JMP Securities
After attending Pure Storage's Analyst Day, JMP Securities analysts John Lucia and Erik Suppiger are encouraged with the company's target of growing revenues at an over 30% CAGR from 2017-2020. However, the analysts say that the company's operating margin guidance of 6%-10% could raise concerns about its profitability.But they believe that the company "is positioning itself to take advantage of growth areas in the market, including next-generation data such as artificial intelligence and machine learning, leading cloud providers in SaaS and IaaS, and enterprise hybrid cloud." The analysts keep a $16 price target and an Outperform rating on the stock.
CNO CNO Financial
$23.04

-0.1 (-0.43%)

08/14/17
08/14/17
DOWNGRADE
Target $21

Underweight
CNO Financial downgraded on valuation, modest ROE improvement at Morgan Stanley
As previously reported, Morgan Stanley downgraded CNO Financial to Underweight from Equal Weight with a $21 price target. Analyst Nigel Dally said valuation is full with shares newar all-time highs and has concerns about deteriorating sales and management's tempered expectations around ROE growth.
08/14/17
MSCO
08/14/17
DOWNGRADE
MSCO
Underweight
CNO Financial downgraded to Underweight from Equal Weight at Morgan Stanley
01/26/17
SBSH
01/26/17
INITIATION
Target $21
SBSH
Neutral
CNO Financial initiated with a Neutral at Citi
Citi analyst Suneet Kamath started CNO Financial with a Neutral rating and $21 price target.
01/09/17
WELS
01/09/17
DOWNGRADE
WELS
Market Perform
CNO Financial downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Sean Dargan downgraded CNO Financial Group to Market Perform saying his thesis has largely played out with the shares at his valuation range. The analyst upped his target range for the stock to $19-$21 from $18-$20.
GOLF Acushnet Holdings
$15.96

0.37 (2.37%)

08/14/17
DADA
08/14/17
DOWNGRADE
DADA
Neutral
Acushnet Holdings downgraded on growth concerns at DA Davidson
As noted earlier, DA Davidson downgraded Acushnet Holdings to Neutral from Buy. Analyst Andrew Bruns downgraded the stock based on "near-term growth concerns" in the wake of the company's results, citing his increased caution on the growth outlook of its Club, FootJoy and Performance units. Those units are facing a longer than expected recovery period and "tougher than expected competition," the analyst stated. Target to $17 from $23.
08/11/17
DADA
08/11/17
DOWNGRADE
DADA
Neutral
Acushnet Holdings downgraded to Neutral from Buy at DA Davidson
08/07/17
ROTH
08/07/17
DOWNGRADE
Target $20
ROTH
Neutral
Acushnet Holdings downgraded to Neutral from Buy at Roth Capital
Roth Capital analyst Dave King downgraded Acushnet Holdings to Neutral from Buy ahead of Q2 results that are likely to show further market share losses for Titleist balls and clubs. The analyst also lowered his price target on the shares to $20 from $25.
07/21/17
RAJA
07/21/17
DOWNGRADE
RAJA
Market Perform
Acushnet Holdings downgraded to Market Perform from Outperform at Raymond James
Raymond James analyst Dan Wewer downgraded Acushnet Holdings to Market Perform based on increasing promotional pricing pressure for golf balls throughout the industry, combined with earlier than expected discounts for Titleist's 917 lines of drivers due to outsized market share gains for Callaway. The analyst lowered his 2917 earnings estimate to $1.11 from $1.20 and 2018 to $1.15 from $1.24.

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