| 2020-10-16 09:53:40|
CLX, DNLI… 09:53 10/16 10/16/20
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Clorox (CLX) downgraded to Neutral from Overweight at JPMorgan with analyst Andrea Teixeira saying further multiple re-rating of the shares "will be harder given the lap of the COVID-19 benefit ahead." 2. Denali Therapeutics (DNLI) downgraded to Neutral from Buy at BTIG with analyst Thomas Shrader saying the current valuation suggests the company is "getting the benefit of the doubt" across its programs despite the increased risk of "all things neuro." 3. Commercial Metals (CMC) downgraded to Neutral from Buy at BofA with analyst Timna Tanners citing a more cautious outlook for non-residential business along with concerns that "too much stimulus hopes" are being priced in following the 12% increase in the stock price since the start of this month. 4. WPX Energy (WPX) downgraded to Sector Perform from Outperform at RBC Capital with analyst Brad Heffern saying the merger-of-equals all-stock deals between WPX and Devon Energy (DVN) is likely to close "as offered", which implies "no obvious upside" to WPX outside of Devon. 5. Kimberly-Clark (KMB) downgraded to Neutral from Overweight at JPMorgan with analyst Andrea Teixeira saying further multiple re-rating of the shares "will be harder given the lap of the COVID-19 benefit ahead." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.