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Fly News Breaks for December 13, 2019
Dec 13, 2019 | 10:19 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Lovesac (LOVE) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying the company reported lower than expected revenue growth in fiscal Q3 and has experienced a sustained deceleration in revenue growth over the past few quarters. 2. Hanesbrands (HBI) downgraded to Underperform from Neutral at BofA/Merrill with analyst Heather Balsky saying she sees risk of multiple contraction as Champion sales decelerate from "peak levels" and the C9 exit from Target constrains the company's 2020 sales and earnings growth. 3. Huntington Bancshares (HBAN) downgraded to Neutral from Buy at UBS with analyst Brock Vandervliet saying the shares have rallied 29% year-to-date, outperforming the sector by nine points. 4. Patterson-UTI (PTEN) and Oil States (OIS) downgraded to Underweight from Neutral at JPMorgan. 5. Gilead (GILD) downgraded to Underperform from Neutral at Credit Suisse with analyst Evan Seigerman saying the company's setup for 2020 "remains challenging" with an "unclear" strategy from new management. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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