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Fly News Breaks for January 15, 2020
Jan 15, 2020 | 10:20 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. First Solar (FSLR) double downgraded to Underweight from Overweight at Barclays with analyst Moses Sutton saying after assessing industry data on 5,000 projects, both operational and in the company's pipeline, the analyst believes First Solar's Systems business "is in trouble." 2. Beyond Meat (BYND) downgraded to Market Perform from Outperform at Bernstein with analyst Alexia Howard citing valuation. 3. Logitech (LOGI) downgraded to Neutral from Outperform at Wedbush with analyst Michael Pachter citing valuation. 4. Darling Ingredients (DAR) downgraded to Neutral from Overweight at JPMorgan analyst Thomas Palmer citing valuation. 5. Brandywine Realty (BDN) downgraded to Neutral from Buy at Mizuho with analyst Haendel St. Juste saying the company's future earnings and dividend outlook is "rather uncertain," which creates a "show me" story for investors before multiple expansion can occur. 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 FSLR;BYND;LOGI;DAR;BDN From the Last 2 Days
Feb 14, 2020 | 14:03 EST
Chase Coleman's Tiger Global disclosed in an SEC filing its holdings as of December 31, 2019. The fund's five new buys during the fourth quarter included, by size of position, PayPal (PYPL), Alphabet Class A (GOOGL), Cardlytics (CDLX), XP Inc. Class A (XP), and (BILL). Tiger exited 16 positions during the quarter, including by size of previous position Fiat Chrysler (FCAU), MercadoLibre (MELI), Wayfair (W), Switch (SWCH), and Beyond Meat (BYND). The fund increased its stake in 15 holdings, including by size of previous position Uber (UBER), Elastic (ESTC), Pinduoduo (PDD), MongoDB (MDB), and RingCentral (RNG). Tiger reduced its stake in 17 holdings, including by size of previous position Alibaba (BABA), Microsoft (MSFT), Facebook Class A (FB), Salesforce (CRM), and Adobe (ADBE). The fund's top holdings as of December 31, in order of size, were Class A (JD), Apollo Global (APO), Microsoft, Facebook, and TransDigm (TDG).
Feb 14, 2020 | 06:33 EST
Bernstein analyst Alexia Howard raised her price target for Beyond Meat (BYND) to $117 from $106 and maintained a Market Perform rating. In a research note to investors Howard says she sees upside from a wider McDonald's (MCD) partnership and having previously estimated that Beyond Meat could generate $168M sales from a McDonald's partnership in the U.S., but now estimates Beyond Meat could generate $227M-$306M in incremental sales from a potential McDonald's rollout in the U.S. The analyst continues to believe that Beyond Meat's near-term sales growth potential in the U.S. is largely priced in at this point, but thinks there could be upside if Beyond Meat further expands its capacity and more meaningfully expands into international markets.