| 2021-02-26 09:54:21|
MGPI, BBY… 09:54 02/26 02/26/21
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. MGP (MGPI) downgraded to Hold from Buy at Truist with analyst Bill Chappell stating that his prior thesis of the pandemic driving premium spirit growth and industrial alcohol profitability has been "fully lapped" and now reflected in the price. 2. Best Buy (BBY) downgraded to Outperform from Strong Buy at Raymond James with analyst Bobby Griffin saying he still believes that Best Buy's best-in-class fulfillment capabilities, high mix of essential items, and well positioned peer services/GreatCall initiatives should propel it to gain further market share over both the near-term and long-term, but tells investors in a research note that the downgrade reflects current valuation that does not offer sizable multiple re-rating potential in the coming months and challenging comp sales comparisons. 3. Fate Therapeutics (FATE) downgraded to Neutral from Outperform at Wedbush with analyst David Nierengarten saying while he appreciates the breadth of Fate's technology, from current share price levels, and now that several proofs of concept have been made, de-risking its novel approaches, going forward, he sees higher downside risk and less reward as clinical programs advance and begin to be compared to standards of care. 4. LendingTree (TREE) downgraded to Underperform from Market Perform at Northland with analyst Mike Grondahl saying the company's Q4 report and Q1 guidance was "not exciting, especially on the bottom line." 5. TPI Composites (TPIC) downgraded to Hold from Buy at Craig-Hallum with analyst Eric Stine citing what he views as "soft" 2021 EBITDA guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.