Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ciena (CIEN) downgraded to Sell from Neutral at UBS with analyst Tejas Venkatesh saying operational expectations are too high following the company's two years of solid top-line outperformance. 2. Teladoc (TDOC) downgraded to Hold from Buy at Jefferies with analyst David Windley saying revenue growth is Teladoc's "most important metric" and he sees risk that the current consensus organic growth forecast for FY20 of 25% could be difficult to achieve given it is based on high expectations for paid-member growth and he sees an increasingly aggressive competitive landscape. 3. Tiffany (TIF) downgraded to Neutral from Outperform at Credit Suisse with analyst Michael Binetti saying that while the company provided a "disappointing" Q3 update, he still believes that the proposed LVMH (LVMUY) deal is likely to best path for Tiffany. The analyst continues to believe the proposed deal makes sense at $135 per share. 4. Michaels (MIK) downgraded to Equal Weight from Overweight at Stephens with analyst Rick Nelson saying he sees continued industry challenges following the company's "disappointing" Q3 results and guidance. 5. Anthem (ANTM) downgraded to Neutral from Buy at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.