Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FuelCell (FCEL) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster citing valuation. 2. Urban Outfitters (URBN) downgraded to Underweight from Neutral at JPMorgan with analyst Matthew Boss saying weaker store traffic constrained the holiday performance. 3. Penn National (PENN) downgraded to Sell from Hold at Loop Capital with analyst Daniel Adam saying the stock has outperformed over the past year with a rise of about 300% on investors' hope that the company can successfully capitalize on the growing online gaming opportunity in the U.S., but the magnitude is likely unwarranted. 4. Ollie's Bargain Outlet (OLLI) double-downgraded to Underperform from Buy at BofA with analyst Jason Haas saying he is increasingly concerned with the "sourcing environment", stating that his recent industry research suggests that the availability of closeout merchandise is lower than expected. 5. Delta Air Lines (DAL) downgraded to Neutral from Positive at Susquehanna with analyst Christopher Stathoulopoulos saying Delta remains "best-in-class among the network carriers," but he sees better risk-reward in shares of Southwest (LUV) and Alaska Air (ALK) given Delta's international exposure and business traffic. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.