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Fly News Breaks for March 3, 2020
CODX, UMRX, SGRY, BUD, CRON
Mar 3, 2020 | 10:17 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cronos Group (CRON) downgraded to Hold from Buy at Stifel with analyst Andrew Carter seeing uncertainty surrounding the company's inability to file its SEC filings and the investigation around its revenue recognition practices. 2. AB InBev (BUD) downgraded to Neutral from Buy at BofA with analyst Paul Steegers saying he believes near-term headwinds, specifically in Brazil, will cut the company's organic EBITDA growth to 4.3% in Q1. 3. Surgery Partners (SGRY) downgraded to Hold from Buy at Benchmark with analyst Bill Sutherland seeing rising uncertainties around surgery volumes, especially for discretionary and less urgent surgeries, if U.S. coronavirus cases move much higher. 4. Unum Therapeutics (UMRX) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Vikram Purohit citing the company's discontinuation of lead program ACTR707. 5. Co-Diagnostics (CODX) downgraded to Hold from Buy at Maxim with analyst Jason McCarthy stating with the shares rising from $20M to $450M, he questions just how much further the valuation on Co-Diagnostics stock can go. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.