| 2020-01-17 10:14:49|
MS, TWTR… 10:14 01/17 01/17/20
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Morgan Stanley (MS) downgraded to Neutral from Overweight at Piper Sandler with analyst Jeffrey Harte saying the stock rallied after reporting a strong earnings beat and seeing management raise the bar on its financial targets. 2. Twitter (TWTR) downgraded to Neutral from Buy at UBS with analyst Eric Sheridan saying the company enters 2020 at a "bit of a crossroads." 3. eBay (EBAY) downgraded to Underweight from Equal Weight at Wells Fargo with analyst Brian Fitzgerald saying he sees an unattractive risk/reward for the shares relative to sector peers. Fitzgerald expects headwinds for the company's core Marketplace business to continue amid the rollout of the Internet sales tax in the U.S. and rising competition from online and multichannel retailers and emerging marketplaces. 4. Cheesecake Factory (CAKE) downgraded to Underweight at Morgan Stanley with analyst John Glass saying about 85% of its stores have mall exposure at a time when mall traffic, even at the best malls, continues to erode. 5. IBM (IBM) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Katy Huberty saying the firm's recent Chief Information Officer and Value Added Reseller surveys point to further deceleration in 2020 IT spending and channel checks suggest companies continue to digest excess IT capacity purchased in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.