| 2021-04-16 09:54:59|
KNSL, CWT… 09:54 04/16 04/16/21
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Kinsale Capital Group (KNSL) downgraded to Neutral from Overweight at JPMorgan with analyst Pablo Singzon saying the shares are trading 21% higher than its 2019 multiple. 2. California Water Service (CWT) downgraded to Sell from Neutral at Seaport Global with analyst Angie Storozynski saying the upcoming general rate case and the cost of capital review in California both pose downside risks to 2023 earnings expectations, in light of which the stock's current valuation looks "full." 3. Goodyear Tire (GT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Victoria Greer saying she continues to like the Cooper deal, sees potential for incremental savings from plant closures, and remains positive on tire industry pricing, but she expects the stock to consolidate gains near current levels. 4. Splunk (SPLK) downgraded to Sector Weight from Overweight at KeyBanc with analyst Michael Turits saying the resignation of CTO Tim Tully comes at a "tough time" during the transition this year of the cloud customer base to SCP. 5. Liberty Latin America (LILA) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Cesar Medina saying with his re-opening thesis playing out, he is "taking profits" given the stock's 27% year-to-date outperformance versus other Latam TMT names. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.