| 2020-04-06 10:12:23|
SBUX, CX… 10:12 04/06 04/06/20
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Starbucks (SBUX) downgraded to Neutral from Overweight at JPMorgan with analyst John Ivankoe saying the consumption habits of consumers in the U.S. are "largely broken" and may take time to rebuild. 2. Cemex (CX) downgraded to Neutral from Overweight at JPMorgan and to Neutral from Outperform at Credit Suisse. 3. Zoom Video (ZM) downgraded to Underperform from Neutral at Credit Suisse with analyst Brad Zelnick saying trading at 40 times 2020 consensus revenue expectations, the current share price embeds significantly greater conversion of free users than an upside model scenario suggests. 4. Spotify (SPOT) double downgraded to Market Perform from Strong Buy at Raymond James with analyst Justin Patterson saying more time indoors amid the ongoing coronavirus pandemic is driving less engagement and fewer downloads, and is creating potential U.S. share shift to Amazon Music (AMZN) given increased smart speaker listening. 5. Steven Madden (SHOO) and Designer Brands (DBI) downgraded to Neutral from Positive at Susquehanna. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.