Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Carlyle Group (CG) was downgraded to Market Perform from Outperform at Keefe Bruyette and to Neutral from Buy at Citi. 2. Walker & Dunlop (WD) downgraded to Neutral from Buy at Compass Point with analyst Jason Weaver saying while he has raised his FY20 EPS estimate to $6.04 from $6.00 and introduced a FY21 estimate of $6.28, he thinks further upside for W&D shares may be limited. 3. Funko (FNKO) was downgraded to Underweight from Overweight at JPMorgan, to Underperform from Buy at BofA, to Neutral from Buy at DA Davidson, and to Hold from Buy at Jefferies. 4. Perspecta (PRSP) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Ed Caso saying the company was unsuccessful in its defense of the large Next Generation Enterprise Network contract with the U.S. Navy, which represented 15%-20% of revenue. 5. Kansas City Southern (KSU) downgraded to Market Perform at BMO Capital with analyst Fadi Chamoun saying that while the demand outlook is favorable and Kansas City's earnings growth profile is more positive than the industry average over the next two to three years, the stock's strong performance in recent months "leaves a modest margin of safety in valuation." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.