| 2021-05-17 09:56:34|
MRTX, GRA… 09:56 05/17 05/17/21
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mirati Therapeutics (MRTX) downgraded to Perform from Outperform at Oppenheimer with analyst Jay Olson citing potentially significant leadership advantages for Lumakras. 2. W.R. Grace (GRA) downgraded to Market Perform from Outperform at BMO Capital with analyst John McNulty saying that while it's "impossible" to entirely rule out a competing bid to 40North's agreed upon price, with roughly three weeks having passed since W.R. Grace's board and management agreed to sell the company, and considering the length of the negotiation to get to that point, he believes the likelihood of someone coming "over the top" is "relatively low." 3. BRF S.A. (BRFS) downgraded to Underweight from Equal Weight at Barclays with analyst Benjamin Theurer expecting "multiple external headwinds to weigh on fundamentals and stock performance." 4. Zions Bancorp (ZION) downgraded to Underperform from Neutral at Baird. 5. NextEra Energy Partners (NEP) downgraded to Neutral from Buy at Seaport Global with analyst Angie Storozynski saying investors are increasingly discounting growth pipelines of renewable power producers and that it is now prudent to value U.S. yieldcos based on already secured/financed growth projects given the potential for lower project returns and/or a lower PV of future cash flows. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.