| 2020-04-07 10:03:24|
OC, GMS… 10:03 04/07 04/07/20
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Owens Corning (OC) cut to Sector Perform from Outperform at RBC Capital with analyst Mike Dahl seeing outsized risk for the company given its fixed cost base and earnings sensitivity, noting that his new base case scenario now assumes a more severe global impact from COVID-19. 2. GMS Inc. (GMS) cut to Sector Perform from Outperform at RBC Capital with analyst Mike Dahl believing that companies with non-residential U.S. business exposure and relatively larger-ticket R&R demand should see sharper declines with more prolonged recovery trajectories due to the fallout of COVID-19. 3. Shopify (SHOP) downgraded to Market Perform from Outperform at Raymond James amid pandemic with analyst Brian Peterson saying near-term headwinds could create a more challenging near-term narrative for the shares. 4. Twilio (TWLO) downgraded to Neutral from Buy at Rosenblatt with analyst Ryan Koontz cutting Twilio's estimates to reflect the "major decline" expected in G7 nations gross domestic product due to COVID-19 impacts. 5. General Motors (GM) downgraded to Hold from Buy at Deutsche Bank with analyst Emmanuel Rosner seeing additional downside risk for U.S. autos stocks and significant liquidity concerns due to their prolonged production shutdown. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.