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Fly News Breaks for January 29, 2020
CPRI, NUE, WEX, AMD, ASH
Jan 29, 2020 | 10:19 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ashland (ASH) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying demand conditions for Ashland have softened since March 2019. 2. AMD (AMD) downgraded to Neutral from Outperform at Exane BNP Paribas. 3. Wex (WEX) downgraded to Hold from Buy at SunTrust with analyst Andrew Jeffrey saying he is positive on the company's competitive position in global fleet and believes that this business can sustain low-mid single digit organic growth rate. However, he is concerned with the growing contribution of its Travel business and its related customer concentration and pricing risk, as revenue in the segment is seen rising to about 30% of the total in 2021. 4. Nucor (NUE) downgraded to Sell from Hold at Deutsche Bank with analyst Chris Terry saying while Nucor on its Q4 earnings call provided supportive commentary for 2020 on end markets, the key new item was capital expenditures in 2020 and 2021. 5. Capri Holdings (CPRI) downgraded to Hold from Buy at Needham with analyst Rick Patel citing a "difficult operating environment" and recent choppiness around its acquired brands. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For ASH;AMD;WEX;NUE;CPRI From the Last 2 Days
AMD
Oct 23, 2020 | 09:48 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BOFA CUTS INTEL... To see the rest of the story go to thefly.com. See Story Here
AMD
Oct 23, 2020 | 12:26 EDT
The major averages are lower at midday amid a continued stimulus stalemate in Washington. While many of... To see the rest of the story go to thefly.com. See Story Here
NUE
Oct 23, 2020 | 08:28 EDT
BMO Capital analyst David Gagliano raised the firm's price target on Nucor to $54 from $50 but keeps a Market Perform rating on the shares after its Q3 earnings beat. The analyst expects the company to produce " further improvements" as its recent pricing increases flow through to results. Gagliano also sees Nucor benefiting from the company-specific volume growth in 2021-2023, though he is concerned with industry-wide oversupply risks in 2021.
AMD
Oct 23, 2020 | 06:31 EDT
Citi analyst Christopher Danely lowered the firm's price target on Intel (INTC) to $50 from $53 and reiterates a Neutral rating on the shares following the company's "mixed" Q3 results. Intel reported "decent" revenue but lower than expected gross margins, Danely tells investors in a research note. The company also provided mixed guidance with continued pressure on gross margins due to mix and pricing pressure, says the analyst. He believes Intel gross margins will remain under pressure given "some aspects of the mix aren't going away along with price pressure from AMD (AMD)."