| 2020-08-05 10:16:28|
AAPL, NVAX… 10:16 08/05 08/05/20
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Neutral from Buy at BofA with analyst Wamsi Mohan saying shares have experienced a rapid multiple expansion since June although 2021 estimates have largely been unchanged in that time. 2. Novavax (NVAX) downgraded to Sell from Neutral at Ladenburg with analyst Michael Higgins saying the vaccine induced "robust" immune responses against the spike protein that exceeded convalescent sera levels from patients infected with or recovering from COVID-19 infection; however, Novavax is one of the last companies in "Operation Warp Speed" to present its initial data and its current valuation overestimates the revenue and net profit opportunity. 3. Tyson Foods (TSN) downgraded to Neutral from Outperform at Credit Suisse with analyst Robert Moskow saygin he expects "another weak year ahead" for the two most important divisions of the company, Chicken and Prepared Foods, due to oversupplied conditions in the chicken industry and weak demand in the foodservice channel. 4. Eastman Chemical (EMN) downgraded to Neutral from Buy at BofA with analyst Matthew DeYoe citing valuation. 5. Willis Towers downgraded to Market Perform from Outperform at Raymond James with analyst Gregory Peters saying the company in Q2 reported 60 basis point of adjusted operating margin contraction compared with increases at peers Aon plc (AON) and Marsh & McLennan (MMC). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.