2020-04-02 10:23:35 | Fly Intel: Top five analyst downgradesCatch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Booz Allen (BAH) downgraded to Hold from Buy at Stifel with analyst Joseph DeNardi sayin if the COVID-19 outbreak begins to negatively impact award flow activity or industry revenue, stocks trading at premium valuations could be impacted more acutely. 2. Exxon Mobil (XOM) downgraded to Hold from Buy at Argus with analyst Bill Selesky saying that sharply lower crude oil prices, COVID-19 driven demand destruction, and the recent downgrade of the company's credit rating by S&P will result in loss of revenue and earnings through higher interest costs. 3. Toll Brothers (TOL) downgraded to Sell from Neutral at Goldman Sachs, while Lennar (LEN) was downgraded to Neutral from Buy. 4. Sanderson Farms (SAFM) downgraded to Neutral from Buy at BofA with analyst Peter Galbo citing "dramatic chicken price movements" during March and expects continued price deterioration in April as retailer demand slows, cutting his FY20-22 from $332M, $450M and $463M, respectively to $217M, $303M and $314M. 5. Disney (DIS) downgraded to Neutral from Buy at Guggenheim with analyst Michael Morris saying Disney has been "particularly hard hit by the pandemic" across virtually every segment of the company and he has lowered his revenue and operating profit estimates across all segments. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. | |
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