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Fly News Breaks for December 23, 2019
CBRL, RC, VLRX, MMM, ROK
Dec 23, 2019 | 10:03 EDT
Catch up on today's top five analyst actions with this list compiled by The Fly: 1. 3M (MMM) upgraded to Neutral from Underweight at JPMorgan with analyst Stephen Tusa saying while PFAS chemicals litigation remains a risk, investor focus for the time being will shift towards fundamentals "as the relative earnings revision curve is probably more stable now." 2. Ready Capital (RC) upgraded to Buy from Hold at Sandler O'Neill with analyst Crispin Love citing what he views as an "attractive" valuation. 3. Rockwell Automation (ROK) downgraded to Underweight from Neutral at JPMorgan with analyst Stephen Tusa saying his checks with the company suggest the Street has "baked in too much optimism" with regards to Rockwell's Q1 estimates. Further, Tusa views Rockwell as the name most exposed to a slowing in PMI momentum. 4. Valeritas (VLRX) downgraded to Perform from Outperform at Oppenheimer with analyst Steven Lichtman citing lowered guidance, cash situation and low visibility after the company announced a manufacturing yield issue. 5. Cracker Barrel (CBRL) initiated with a Neutral at CL King. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.