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2018-07-20 10:27:21 PM Philip Morris $82.73 / +1.83 (+2.26%) , SKX Skechers $26.03 / -7.21 (-21.69%) … 10:27 07/20/18 07/20 10:27 07/20/18 10:27	On The Fly: Top five analyst downgrades Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Philip Morris (PM) downgraded to Neutral from Overweight at JPMorgan and to Market Perform from Outperform at Cowen. 2. Skechers (SKX) downgraded to Neutral from Positive at Susquehanna and to Market Perform from Outperform at Wells Fargo. 3. McKesson (MCK), AmerisourceBergen (ABC), and Express Scripts (ESRX) downgraded to Neutral from Outperform at Baird. 4. Five Below (FIVE) downgraded to Neutral from Outperform at Credit Suisse with analyst Judah Frommer saying he is moving to the sidelines as he sees risk/reward balanced at current levels given the stock's material outperformance and back-half comp acceleration that he believes is priced into shares. 5. Yum China (YUMC) downgraded to Underperform from Neutral at BofA/Merrill with analyst Chen Luo saying he expects Yum China to continue to underperform given a likely peak in KFC trends amid China's weakening macro environment, a likely prolonged turnaround at Pizza Hut combined with heavy costs, a slowdown in Chinese consumer consumption, and RMB depreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. PM Philip Morris $82.73 / +1.83 (+2.26%) SKX Skechers $26.03 / -7.21 (-21.69%) MCK McKesson $132.70 / -1.1 (-0.82%) ABC AmerisourceBergen $84.82 / -0.76 (-0.89%) ESRX Acquired by Cigna $76.34 / -0.39 (-0.51%) FIVE Five Below $104.00 / -3.8 (-3.53%) YUMC Yum China $34.48 / -1.52 (-4.22%)	26 Jul 01 Aug 02 Aug 10 Sep

2018-07-20 10:27:21

Philip Morris

$82.73 / +1.83 (+2.26%)

, SKX

Skechers

$26.03 / -7.21 (-21.69%)

… 10:27

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07/20/18

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On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Philip Morris (PM) downgraded to Neutral from Overweight at JPMorgan and to Market Perform from Outperform at Cowen. 2. Skechers (SKX) downgraded to Neutral from Positive at Susquehanna and to Market Perform from Outperform at Wells Fargo. 3. McKesson (MCK), AmerisourceBergen (ABC), and Express Scripts (ESRX) downgraded to Neutral from Outperform at Baird. 4. Five Below (FIVE) downgraded to Neutral from Outperform at Credit Suisse with analyst Judah Frommer saying he is moving to the sidelines as he sees risk/reward balanced at current levels given the stock's material outperformance and back-half comp acceleration that he believes is priced into shares. 5. Yum China (YUMC) downgraded to Underperform from Neutral at BofA/Merrill with analyst Chen Luo saying he expects Yum China to continue to underperform given a likely peak in KFC trends amid China's weakening macro environment, a likely prolonged turnaround at Pizza Hut combined with heavy costs, a slowdown in Chinese consumer consumption, and RMB depreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Philip Morris