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Fly News Breaks for February 21, 2019
GIS, FARO, LEN, BIIB, DHI, GRMN
Feb 21, 2019 | 10:11 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Garmin (GRMN) downgraded to Neutral from Buy at Longbow with analyst Nikolay Todorov saying its upside potential is limited by valuation following a 17% rally in the stock price yesterday. 2. Biogen (BIIB) downgraded to Hold from Buy at Stifel with analyst Paul Matteis saying the stock has been "remarkably resilient" in the wake of two recent events - Roche's (RHHBY) crenezumab futility and Tecfidera's inter partes review institution. However, both these events "imply elevated risk to the long-term bull case." 3. Faro Technologies (FARO) downgraded to Hold from Buy at Craig-Hallum with analyst Greg Palm citing increasing risks to the company's near term growth and margin targets. 4. D.R. Horton (DHI) and Lennar (LEN) downgraded to Neutral from Outperform at Wedbush. 5. General Mills (GIS) downgraded to Hold from Buy at Standpoint Research. 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 GRMN;BIIB;FARO;DHI;LEN;GIS From the Last 2 Days
DHI
Apr 22, 2019 | 15:40 EDT
DR Horton draws call sellers after an analyst downgrade, ahead of earnings. Shares off 1.6% to $45.66 after Keefe Bruyette lowered their rating to Market Perform. In options action, small lots of May 50 calls on the builder trade 33c before 13.2K print 30c with bid-ask 30 to 40c. 16.5K changed hands at that line against 366 open interest and the call writing opens positions struck 9.5% above spot, expiring in 25 days. The company is due to report Thursday morning and, while the stock dropped 2.6% to $37.30 on 1/25/19 after the last report, it's since rallied 22.4%.
DHI
Apr 22, 2019 | 10:10 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Underperform from In Line at Evercore ISI with analyst Arndt Ellinghorst citing his more cautious view on demand for its vehicles, in particular the recent "severe decline" in demand for the Model S and Model X. 2. Schlumberger (SLB) downgraded to Sell from Hold at Tudor Pickering. 3. Dunkin' Brands (DNKN) downgraded to Hold from Buy at Maxim. 4. D.R. Horton (DHI) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Jade Rahmani citing valuation. 5. Occidental Petroleum (OXY) downgraded to Neutral from Buy at Mizuho with analyst Paul Sankey saying reports of Occidental bidding for Anadarko (APC) are "well outside" his "prior understanding of company strategy." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DHI
Apr 22, 2019 | 04:48 EDT
Keefe Bruyette analyst Jade Rahmani downgraded D.R. Horton to Market Perform from Outperform with an unchanged price target of $47. The analyst cites valuation for the downgrade with the shares nearing her price target.