| 2021-05-06 09:54:17|
PTON, FMC… 09:54 05/06 05/06/21
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Peloton (PTON) downgraded to Neutral from Buy at BofA with analyst Justin Post saying Peloton's voluntary recall of both the Tread and Tread+ treadmills change his "upside thesis," said Post, who said his biggest concern on the news is not the potential loss of Tread+ subscribers but the potential impact on the launch of the new lower-priced Tread, which he had previously anticipated would be a significant growth driver in FY22. 2. FMC Corporation (FMC) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying the company reported a "somewhat weak quarter" in terms of organic growth. 3. Pfizer (PFE) downgraded to Neutral from Buy at Mizuho with analyst Vamil Divan saying the company delivered a "stunning beat and raise" in Q1, but the recent strength in the shares make meaningful upside more challenging. 4. OceanFirst Financial (OCFC) downgraded to Equal Weight from Overweight at Stephens with analyst Matt Breese saying despite a Q4 balance sheet restructuring that was expected to result in 15 basis points of net interest margin expansion, NIM disappointed in Q1 and the "pathway to a 1.00% ROA appears beyond 2022." 5. Pioneer Natural (PXD) downgraded to Hold from Buy at Truist with analyst Neal Dingmann noting that his rating change is driven by the "fear of change" in the "ever-changing energy investor appetite," even though the company's longer-term metrics are toward the top of the industry. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.