Fly Intel: 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 Underperform from Neutral at Credit Suisse with analyst Alan Erskine saying after conducting a survey of next-generation products users in Japan, the U.S. and the U.K., he believes slower progress in the take-up of heated tobacco products and weaker combustible organic growth will challenge the high-single-digit earnings growth models of Philip Morris and British American Tobacco (BTI). 2. Wabco (WBC) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Courtney Yakavonis saying she is losing conviction that Wabco can return to its "normal" margin and outgrowth framework in FY19, citing rolling global truck markets, recent underperformance in core outgrowth, and sustained margin risks as limiting factors to the previously premium multiple. 3. Kansas City Southern (KSU) and Schneider National (SNDR) were downgraded to Neutral from Overweight at JPMorgan. 4. Illinois Tool Works (ITW) and Flowserve (FLS) were downgraded to Underweight from Equal Weight at Morgan Stanley, while Hubbell (HUBB) was downgraded to Equal Weight from Overweight at Morgan Stanley. 5. Worldpay (WP) downgraded to Outperform from Top Pick at RBC Capital with analyst Daniel Perlin saying while the company trades in line with its peers on a relative price-to-earnings basis, its shares remain attractive given the "conservative" expectations for synergy targets. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.