Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pinduoduo (PDD) downgraded to Neutral from Buy at Citi with analyst Alicia Yap saying the company's growth visibility seems limited by its problems obtaining new customers. 2. Merck (MRK) downgraded to Neutral from Buy at Citi with analyst Andrew Baum seeing a "high probability" that Merck will abandon islatravir development for HIV in the next three months given "likely high" regulatory concerns. 3. Hudson Pacific (HPP) downgraded to Neutral from Overweight at Piper Sandler with analyst Alexander Goldfarb saying the latest Covid variant "is just one more headwind Office investors will have to face." 4. UPS (UPS) downgraded to Hold from Buy at Deutsche Bank with analyst Amit Mehrotra saying after the 120% increase in shares since the upgrade to Buy 21 months ago, the stock's risk/reward is better balanced. 5. Canadian Pacific (CP) downgraded to Hold from Buy at Deutsche Bank with analyst Amit Mehrotra saying the downgrade reflects CP's "significant" additional debt and new equity to pay for its acquisition of Kansas City Southern (KSU). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.