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Fly News Breaks for December 12, 2019
PLCE, WST, MMM, BEDU, HD
Dec 12, 2019 | 10:08 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Home Depot (HD) downgraded to Accumulate from Buy at Gordon Haskett with analyst Chuck Grom saying he left Home Depot's analyst meeting yesterday with "mixed emotions." 2. 3M (MMM) downgraded to Sell from Neutral at UBS analyst Markus Mittermaier citing his caution heading into 2020 related to volume, pricing, and the potential polyfluoroalkyl substance contamination liability. 3. Children's Place (PLCE) downgraded to Neutral from Outperform at Wedbush and to Underperform from Neutral at BofA/Merrill. 4. Bright Scholar (BEDU) downgraded to Neutral from Buy at Goldman Sachs with analyst Christine Cho saying she sees higher cost pressure from recent acquisitions after the company reported "another earnings miss" in fiscal Q4. 5. West Pharmaceutical (WST) downgraded to Underperform from Neutral at BofA/Merrill with analyst Juan Avendano citing a difficult prior year comps weighing on the company's 2020 prospects, along with its "near all-time high valuation" limiting its multiple expansion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.