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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 10:20 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Calavo Growers (CVGW) downgraded to Equal Weight from Overweight at Stephens with analyst Ben Bienvenu noting the resignations of John Lindeman, CFO, and James Snyder, Controller and CAO, and saying the announcements come as a "major surprise." 2. NIO Inc. (NIO) downgraded to Neutral from Buy at Citi with analyst Jeff Chung stating the company's deal will the government of Hefei will require Nio to spend on a headquarters move, which may put the company under more pressure in case of prolonged sales weakness. 3. SmileDirectClub (SDC) downgraded to Neutral from Buy at UBS with analyst Kevin Caliendo citing "execution concerns" evident in the company's Q4 earnings miss. 4. MTBC (MTBC) downgraded to Neutral from Buy at H.C. Wainwright with analyst Kevin Dede saying as much as the new CareCloud deal offers, MTBC's nearer-term risk/reward scenario is unfavorable. 5. Golden Entertainment (GDEN) downgraded to Neutral at JPMorgan with analyst Daniel Politzer prefering to take a more conservative stance on the stock's risk/reward spectrum. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.