2020-11-24 09:56:29 | Fly Intel: Top five analyst downgradesCatch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Fulgent Genetics (FLGT) downgraded to Neutral from Buy at BTIG with analyst Sung Ji Nam citing valuation and "limited visibility" into the long term durability of the company's COVID testing business. 2. Knight-Swift (KNX) downgraded to Neutral from Buy at Citi with analyst Christian Wetherbee saying he is "stepping back" from the truckload space as he thinks it will be difficult for the stock to "shrug off peak-cycle fears in the coming months as data turns from excellent to simply good." 3. Werner (WERN) downgraded to Neutral from Buy at Citi with analyst Christian Wetherbee saying he expects spot rates to begin topping out and to move lower, particularly as tough comps get lapped in the second half of 2021. 4. ViacomCBS (VIAC) downgraded to Hold from Buy at Deutsche Bank with analyst Bryan Kraft saying while streaming will continue to be a source of growth, it is unclear whether it will be "more than a hedge against" the decline in the traditional networks business from a long term EBITDA and free cash flow perspective. 5. Ulta Beauty (ULTA) downgraded to Hold from Buy at Jefferies with analyst Stephanie Wissink saying the firm's survey of about 1,400 consumers regarding holiday spending intentions and plans showed signals "across the board" of spending on beauty being lower year-and-year and signs of the potential lingering effects of COVID carrying into the medium-term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, Reference Link | |
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