Information Provided By:
Fly News Breaks for October 9, 2019
LECO, FDX, IRBT, DPZ, WAT
Oct 9, 2019 | 10:14 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Domino's Pizza (DPZ) downgraded to Hold from Buy at Argus with analyst John Staszak citing its worse than expected Q3 revenue and earnings along with its new 2-3 year outlook of global retail sales growth of 7%-10% - down from its prior 3-5 year outlook of 8%-12% growth. 2. FedEx (FDX) downgraded to Market Perform from Outperform at Bernstein. 3. Waters (WAT) downgraded to Underweight from Equal Weight at Barclays with analyst Jack Meehan saying as leading indicators of the macro environment continue to weaken, he sees risk to the outlook for Waters' Industrial sales exposure. 4. iRobot (IRBT) downgraded to Underperform from Market Perform at Raymond James with analyst Brian Gesuale saying he thinks Street models aren't reflecting the beginning of a meaningful commoditization cycle across the RVC category. 5. Lincoln Electric (LECO) downgraded to Hold from Buy at Stifel with analyst Nathan Jones saying he still sees Lincoln Electric as "one of the highest quality businesses" in his coverage universe thanks to its strong management and leading technologies, but believes that the headwinds in the company's end market will limit the upside for investors in the near term. 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 DPZ;FDX;WAT;IRBT;LECO From the Last 2 Days
IRBT
Oct 16, 2019 | 06:54 EDT
JPMorgan analyst Mark Strouse lowered his price target for iRobot (IRBT) to $69 from $83 and keeps a Neutral rating on the shares ahead of the company's Q3 results. The analyst expects "some quarter-to-quarter noise" in the second half of 2019 related to timing of Amazon (AMZN) orders, which he notes are expected to be unseasonably tilted towards Q4 owing to tariffs. In addition, initial reviews for the competing high-end Shark RVC are mostly positive, which may lead to share loss for iRobot during the key holiday season, Strouse tells investors in a pre-earnings research note. While iRobot has sued Shark for patent infringement, the analyst does not expect a decision prior to year-end, "meaning that holiday sales may still be at risk."